AT&T Inc. reported fourth quarter earnings that surpassed expectations.
The telecom conglomerate’s adjusted earnings for the three months ending in December came in at 89 cents per share, beating the 87 cents expected by analysts. The figure is + 3.5% higher from the same period last year.
Total revenue declined -2.4% to $46.8 billion, slightly below analysts' estimates of a $47 billion.
Looking ahead, AT&T projects adjusted earnings to grow to between $4.50 to $4.80 per share by 2022, along with revenue growth every year. It expects a compound annual growth rate in revenues of between 1% to 3% over the next three years.
AT&T is set to launch its streaming HBO Max in May.