Tags: US | Earns | AT&T

AT&T Earnings Fall 21 Percent on Healthcare Charge

Wednesday, 21 Apr 2010 08:03 AM

 

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AT&T says its earnings fell 21 percent in the latest quarter because of a charge for healthcare benefits.

The country's largest telecommunications provider said Wednesday it earned $2.48 billion, or 42 cents per share, in the first three months of the year.

The results included a previously announced charge of $995 million, or 17 cents per share, to reflect a change in the healthcare reform package regarding the tax treatment of benefits.

Excluding that item, earnings would have been 59 cents per share,
beating the average forecast of 54 cents per share by analysts surveyed by Thomson Reuters.

Revenue was $30.6 billion, flat with a year ago and slightly below analyst expectations for $30.7 billion.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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