AT&T's second-quarter earnings in line with expectations but revenue misses

Shares of AT&T Inc. dropped in Thursday's extended session after the telecommunications company turned in quarterly earnings that met expectations but its revenue fell short. AT&T reported its second-quarter earnings rose to $3.41 billion, or 55 cents a share, from $3.08 billion, or 59 cents a share, a year earlier. Excluding one-time items, AT&T would have earned 72 cents a share. Revenue rose 22.7% to $40.52 billion. Analysts surveyed by FactSet had forecast earnings of 72 cents a share, on an adjusted basis, on revenue of $40.61 billion. AT&T said its full-year guidance remains on track to meet or exceed expectations. AT&T shares fell over 1% in after hours.

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