AT&T misses first quarter earnings estimates amid antitrust battle

AT&T’s earnings for the first quarter of 2018 fell short of expectations on Wednesday, with earnings coming in at 85 cents-per-share vs. analysts' 87 cents-per-share estimate, per the Wall Street Journal.

Why it matters: The company’s fortunes are under scrutiny as it waits for the resolution of its court battle over the Justice Department’s attempt to block its $85 billion proposed purchase of Time Warner. The company said on its earnings call that it is ready to close the deal should the court sign off.