DALLAS — AT&T Inc. today reported second-quarter earnings of $1.57 billion.

The company said it had net income of 21 cents per share. Earnings, adjusted for one-time gains and costs, were 89 cents per share.

The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The telecommunications company posted revenue of $44.05 billion in the period, also exceeding Street forecasts. Fourteen analysts surveyed by Zacks expected $42.65 billion.

AT&T shares have decreased 3% since the beginning of the year, while the S&P’s 500 index has increased 16%. The stock has dropped nearly 8% in the past 12 months.