Telecom giant AT&T, Inc. reported Thursday that its first-quarter profit declined from last year, yet topped market estimates. Revenues were higher, but missed the Street forecast. The company further said it is on track to achieve $6 billion-plus run-rate cost savings target before the end of the year. In pre-market activity on the NYSE, the shares were losing around 4.7 percent.
John Stankey, AT&T CEO, said, "The work we're doing today is establishing a foundation for durable, long-term growth, and we remain confident in our full-year guidance."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.