AT&T misses Street 4Q forecasts

DALLAS – DALLAS (AP) _ AT&T Inc. (T) on Tuesday reported fourth-quarter net income of $4.01 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had profit of 65 cents. Earnings, adjusted for non-recurring gains, were 63 cents per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The telecommunications company posted revenue of $42.12 billion in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $43.06 billion.

For the year, the company reported profit of $13.35 billion, or $2.37 per share. Revenue was reported as $146.8 billion.

AT&T shares have increased roughly 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has declined roughly 7 per cent. In the final minutes of trading on Tuesday, shares hit $35.40, an increase of nearly 7 per cent in the last 12 months.


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Keywords: AT&T, Earnings Report, Priority Earnings