AT&T Inc. (NYSE: T) reported its financial results for the quarter ended March 31, 2020 today.
AT&T posted a 12% increase in earnings for the first quarter of 2020 helped by growths in revenues from domestic wireless services and strategic and managed business services. However, the company saw declines in revenues from WarnerMedia, domestic video, legacy wireline services, domestic wireless equipment, and Vrio.
The company did not adjust for COVID-19 costs of about $0.05 in the quarter, with more than half of those costs expected to have only short-term impacts. Due to the lack of visibility related to COVID-19 pandemic and recovery, the company has withdrawn financial guidance at this time.