Telecommunications giant AT&T has beat analysts forecast earnings by 3% with first quarter revenue of $44 billion and profits of $1 billion, which was 89% higher than predicted. News of the increased profit caused AT&T analyst to update their 2021 revenue forecast to $172 billion. AT&T’s stock ranges in value from $16 per share to $43 per share, depending on if you’re talking to a bullish or bearish analyst.
AT&T previously said they would be focused on paying down their massive debt load, of which, DirectTV was a huge part of when the company bought it in hopes of expanding their own entertainment offerings. AT&T is predicting a return to solid profits this year while it continues to try an unload DirectTV at a substantial loss.