AT&T Stock Is Moving Higher: Here's Why

AT&T Inc T shares are trading higher Thursday after the company reported better-than-expected financial results.

AT&T said first-quarter revenue decreased 13.3% year-over-year to $38.1 billion, which beat the $29.53 billion estimate. The company reported quarterly earnings of 77 cents per share, which beat the estimate of 59 cents per share, according to data from Benzinga Pro.

"We had our best first quarter for postpaid phone net adds in more than a decade and our fiber broadband net adds remain consistently strong," said John Stankey, CEO of AT&T.

Related Link: AT&T Smashes Q1 Performance Backed By Robust Postpaid Phone, Fiber Broadband Net Adds

WarnerMedia Highlights: Global HBO Max and HBO subscribers totaled 76.8 million, up 12.8 million year-over-year. AT&T said domestic subscribers reached 48.6 million in the quarter, up 4.4 million year-over-year.

See Also: Breaking Down AT&T's Stock After WarnerMedia Spin-Off

T 52-Week Range: $18.85 - $33.88

The stock was up 3.47% at $20.11 at time of publication.

Photo: courtesy of AT&T.