After AT&T Inc. (T) reported that it had beaten estimates for its fiscal second quarter earnings results, option traders are taking actions that imply they think the share price will drift higher in the future. This may come as a surprise considering that the AT&T share price gained less than 1% the day after the report came out.
AT&T reported an earnings per share (EPS) of $0.89 and revenues of $44 billion, exceeding analysts’ predictions calling for $0.80 in EPS and $42.7 billion in revenue. Notably, AT&T also overwhelmingly exceeded analysts expectations of additional postpaid phone subscribers by 300%. Before the announcement, …
