AT&T ( T) posted first-quarter revenue that missed Wall Street estimates. The telecom giant reported sales of $31.4 billion, down 1.5% from the prior year's quarter. Analysts were looking for revenue of $31.75 billion. Excluding items, AT&T earned 64 cents a share, up from 59 cents a share in the prior year's quarter and in line with Wall Street's forecast. The Apple ( AAPL) iPhone partner sold 6 million smartphones -- a first-quarter record. AT&T added 1.2 million postpaid smartphone subscribers during the quarter. The company said that 72% of its postpaid phone subscribers had smartphones, up from 61% in the year ago quarter. AT&T's total wireless revenue was $16.7 billion, an increase of 3.4% on the prior year's quarter. The Dallas-based firm posted a net increase of 291,000 total wireless subscribers during the quarter. AT&T Shares Slip on Revenue Miss
Ford ( F) is expected by Wall Street on Tuesday to post first-quarter earnings of 38 cents a share share on revenue of $33.83 billion. Ford has been getting a boost from demand for new vehicles and pickup trucks in the U.S. Its market share in the first quarter rose to 16.2% from 15.5% a year earlier. Sales are also gaining in China.
Boeing ( BA) is forecast to earn $1.48 a share in the first quarter on revenue of $18.84 billion. When Boeing reports Wednesday, investors will be keying in on when the company's 787 Dreamliners, grounded since mid-January, will be flying again. The latest reports said the plane could be flying in a week after Boeing's new battery design received regulatory approval. Last year, the aerospace giant posted a profit of $923 million, or $1.22 a share, on revenue of $19.38 billion. Blue Skies Ahead for Boeing 787
Yum Brands ( YUM), the owner of KFC, Pizza Hut and Taco Bell, posted a steep decline in quarterly net income as same-store sales in China fell 20% on a controversy over its chicken supply. A report on Chinese TV in December said some KFC suppliers were giving chickens unapproved levels of antibiotics. Yum earned $337 million, or 72 cents a share, in the first quarter, down from $458 million, or 96 cents a share, a year earlier. Adjusted earnings in the quarter were 70 cents a share; analysts were looking for 60 cents. Revenue of $2.54 billion came in below analysts' forecasts of $2.56 billion.
Procter & Gamble ( PG) is expected by Wall Street on Wednesday to report fiscal third-quarter earnings of 96 cents a share on revenue of $20.72 billion.
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