AT&T Inc. T reported fourth-quarter results Tuesday with consolidated revenues at $34.4 billion, slightly above estimates of $34.26 billion, an increase of 3.8 percent versus the year-earlier period.
The company’s net loss totaled $4.0 billion, or $0.77 per diluted share, compared to net income of $6.9 billion, or $1.31 per diluted share in the year-ago quarter.
Adjusted EPS was $0.55, inline with analyst estimates. The adjustment to earnings included $(0.94) from the non-cash actuarial loss on benefit plans, $(0.25) non-cash write-off of certain network assets, and $(0.13) for merger and integration-related expenses, the loss on the sale of Connecticut wireline operations, and other asset impairments.
On an adjusted basis, operating expenses were $29.5 billion, compared to $28.0 billion in the year-ago quarter.
Operating income was $4.9 billion versus $5.2 billion a year ago and operating income margin was 14.2 percent versus 15.5 percent a year ago.
“Over the last year, we’ve made several moves to significantly transform our business for the future,” said Randall Stephenson, AT&T chairman and CEO. “Our transactions with DIRECTV and Mexican wireless companies Iusacell and Nextel Mexico will make us a very different company. We’ll be unique in the industry because we’ll be able to offer integrated capabilities across a diversified base of services, customers, geographies and technology platforms. After we close DIRECTV, our largest revenue stream will come from business-related accounts, followed by U.S. TV and broadband, U.S. consumer mobility and then international mobility and TV.”
AT&T Inc. traded at $33.39 in the after hours session, up 1.77 percent.
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