Shares of AT&T Inc (NYSE:T) are trading higher Monday in a sympathy move after its chief rival, Verizon Communications Inc (NYSE:VZ), reported better-than-expected second-quarter results and raised its full-year guidance, signaling a healthy U.S. telecommunications market.
What To Know: Verizon’s strong performance is providing a positive read-through for AT&T, as both companies compete directly for wireless and broadband customers. Verizon announced second-quarter revenue of $34.5 billion, a 5.2% year-over-year increase that surpassed analyst expectations.
