AT&T Inc. (T) – Get Free Report posted better-than-expected fourth quarter earnings with a muted near-term outlook Wednesday, whereas including that it plans to pay down debt as a prime precedence after assembly dividend funds.
AT&T stated adjusted earnings for the three months ending in December had been pegged at 61 cents per share, up 9% from final yr and simply forward of the Road consensus forecast of 57 cents per share.
At $25 billion impairment cost, linked to final yr’s hovering rates of interest, pushed the group into an working lack of $23.1 billion, AT&T stated.
Revenues, the corporate stated, rose 0.65% from final yr to $31.3 billion, primarily matching Road forecasts, whereas the group’s standalone mobility revenues had been pegged at $21.5 billion, up 1.7% from final yr. with service revenues rising 5.2% to $15.4 billion..
Round 656,000 post-paid wi-fi subscribers had been added over the quarter, the corporate stated, simply forward of the consensus forecast of round 645,000, whereas general income figures mirror the spin-off of its media property into Warner Bros. Discovery (WBD) – Get Free Report final yr.
Wanting into the present yr, AT&T stated it sees adjusted earnings within the area of $2.35 to $2.45 per share, in comparison with a Road forecast of $2.56, with wi-fi companies income development of “4% or increased”.
“We’re dedicated to connecting folks to larger risk, and our outcomes display that our prospects are responding to this,” stated CEO John Stankey. “Our constant go-to-market technique and the simplicity of our choices drove continued sturdy, high-quality wi-fi and fiber buyer additions within the fourth quarter. During the last 10 quarters, we have demonstrated sustainable momentum in rising buyer relationships, with 7.5 million postpaid telephone web provides and a pair of.9 million AT&T Fiber web provides.”
“We met or surpassed all of our profitability targets for the yr all whereas investing at report ranges to convey the advantages of our 5G and fiber applied sciences to much more folks,” he added. “As we enter 2023, I am assured within the trajectory of our enterprise and in our workforce’s means to ship worthwhile and sturdy development for our shareholders.”
AT&T shares had been marked 2.24% increased in pre-market buying and selling instantly following the earnings launch to point a gap bell worth of $19.59 every.