AT&T down despite Q1 beat on broader weakness in telecom stocks

Shares of telecom provider AT&T T.N down 2.4% at $25.28 despite Q1 beat amid broader selloff in U.S. telecom stocks

Shares of telecom stocks down after reports of merger talks between Deutsche Telekom DTEGn.DE and T-Mobile TMUS.O

A merger between DTEGn and TMUS, if it goes through, could create a telecom behemoth with a market capitalisation of nearly $300 bln and more than 200 million mobile subscribers combined

T-Mobile down 4.7%, Verizon VZ.N falls 1.5%

AT&T posts Q1 adjusted EPS of $0.57, above analysts' average estimate of $0.55; Q1 revenue of $31.5 bln, beats expectations of $321.25 - LSEG-compiled data

Revenue growth driven by higher wireless and fiber service revenues, including contributions from acquired Lumen fiber customers

Co reported it added more wireless subscribers in Q1 than expected

Including session's moves, AT&T up 1.1% YTD