AT&T Inc. (NYSE: T) reported a decline in earnings and revenue for the second quarter of 2020, hurt by the COVID-19 pandemic. Adjusted earnings of $0.83 per share topped analysts’ earnings target of $0.79 per share. However, Q2 revenue of $40.95 billion missed consensus estimates of $41.1 billion.
AT&T stock was trading up about 1% in the pre-market trading session.
The telecom giant expects the total dividend payout ratio at year-end 2020 to be in the 60s% range and targets the low end of that range. AT&T also expects gross capital investment to be the $20 billion range in 2020.
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