Why AT&T (T) Shares Are Trading Higher Today - AT&T (NYSE:T)

AT&T Inc T reported fourth-quarter FY22 operating revenues of $31.34 billion, up 0.8% year-over-year, marginally missing the consensus of $31.39 billion.
The results reflected higher Mobility, Mexico, and Consumer Wireline revenues, partly offset by lower Business Wireline revenues.
In the Mobility segment, AT&T clocked 1.1 million postpaid net adds, which included 656 thousand postpaid phone net adds and a 13 thousand dip in prepaid phone net adds.
Also Read: Verizon Clocks 1.43M Retail Postpaid Net Additions In Q4, FY23 Outlook Lags Wall Street Consensus
The Mobility segment saw a Postpaid churn of 1.01%, which decreased from 1.02% last year. The Consumer Wireline segment had 280 thousand AT&T Fiber net adds.
AT&T's adjusted EBITDA of $10.23 billion was up from $9.48 billion a year ago. The company generated $6.1 billion in free cash flow. It spent $4.2 billion on Capex.
Prepaid churn was less than 3%. Postpaid phone-only ARPU was $55.43, up 2.5% versus the year-ago quarter, due to pricing actions, higher international roaming, and a mix shift to higher-priced unlimited plans.
Operating Income Loss: Operating income loss was $(21.09) billion from $4.89 billion a year ago. AT&T recognized goodwill impairments of $24.8 billion were associated with Business Wireline, Consumer Wireline, and Mexico reporting units due to higher interest rates.
Mobility segment operating income was up 13.4% Y/Y to $6.0 billion with a margin of 28.1%. The Business Wireline segment operating margin was 14.2%.
Adjusted EPS of $0.61 beat the consensus of $0.57.
FY23 Outlook: AT&T expects to grow wireless service revenue by 4% or higher. It expects Broadband revenue growth by 5% or higher.
AT&T expects adjusted EPS of $2.35 - $2.45, below the consensus of $2.56.
Price Action: T shares traded higher by 2.51% at $19.64 in the premarket on the last check Wednesday.
Photo by Tdorante10 via Wikimedia Commons

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

AT&T Clocks 1.1M Postpaid Net Adds In Q4, Takes $25B Goodwill Impairment Charge