AT&T Inc. reported fourth quarter earnings that exceeded analysts’ expectations.
Adjusted earnings for the three months ending in December rose +9% from the year-ago quarter to 61 cents per share, beating the Street consensus forecast of 57 cents per share.
Revenues climbed +0.65% from last year to $31.3 billion, in line with the Street forecasts. The company’s standalone mobility revenues were up +1.7% year-over-year at $21.5 billion. Service revenues rose +5.2% to $15.4 billion.
AT&T added around 656,000 post-paid wireless subscribers over the quarter, slightly ahead of the consensus forecast of around 645,000.
For the current year, AT&T is expecting adjusted earnings in the range of $2.35 to $2.45 per share, compared to a Street forecast of $2.56. It projects wireless services revenue growth of 4% or higher, and broadband revenues growth of 5% or more.