AT&T Slips To Loss On Charges, But Adj. EPS Tops View
Telecom giant AT&T, Inc. (T) reported Wednesday a hefty loss for the fourth quarter compared to a profit last year, primarily hurt by impairments, abandonments and restructuring charges. Adjusted earnings per share topped analysts' expectations, while quarterly revenues missed it by a whisker. The company also issued weak earnings guidance for the full year 2023.
"Our consistent go-to-market strategy and the simplicity of our offerings drove continued robust, high-quality wireless and fiber customer additions in the fourth quarter," said John Stankey, AT&T CEO.
For the fourth quarter, net loss from continuing operations attributable to common stock was $23.57 billion or $3.20 per share, compared to $4.99 billion or $0.66 per share in the prior-year quarter.
Excluding other items, adjusted earnings from continuing operations was $0.61 per share, compared to $0.56 per share in the year-ago quarter.
AT&T's operating revenues from continuing operations for the quarter edged up 0.8 percent to $31.34 billion from $31.10 billion in the same quarter last year, primarily reflecting higher Mobility, Mexico and Consumer Wireline revenues, partly offset by lower Business Wireline revenues.
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