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The backtest results indicate that T shows a low short-term win rate of 14.29% within 3 days after earnings beats, but a much stronger 71.43% win rate over 30 days with a 2.74% average return. This suggests that initial market reactions may be negative or muted, yet the stock tends to recover and appreciate over the medium term. In contrast, the Diversified Telecommunication Services Industry as a whole shows no significant price impact from earnings beats, implying that T's positive medium-term performance is somewhat unique. Investors might consider holding T for at least a month post-earnings beat to capture potential gains despite initial volatility.