AT&T stock declines as earnings beat but free-cash flow comes up light

Shares of AT&T Inc. T were declining more than 3% in Thursday’s premarket action after the telecommunications giant fell short with its free-cash flow for the first quarter, though the company beat profit expectations. During the first quarter, AT&T logged income from continuing operations of $4.5 billion, or 57 cents a share, whereas it earned $5.1 billion, or 65 cents a share, on the metric in the year-earlier period.

5 billion, or 57 cents a share, whereas it earned $5.1 billion, or 65 cents a share, on the metric in the year-earlier period. After adjustments, AT&T earned 60 cents a share from continuing operations, down from the 63 cents a share in earnings that it saw from continuing operations a year before. Analysts tracked by FactSet were expecting 58 cents a share in adjusted earnings. Operating revenue inched up to $30.1 billion from $29.7 billion a year before.

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