The telecom giant brought in revenue of $32.5 billion, an increase of 3.6% from the same period last year. Analysts had expected $32 billion.
|AT&T reported its fourth-quarter results early on Thursday.|
AT&T had its best-ever quarter of smartphone sales. The Dallas-based firm sold 9.4 million of the devices during the quarter, a 50% hike on its previous quarterly record, and almost double the number sold during the previous quarter, when AT&T took a hit from customers awaiting the iPhone 4S launch.
The company had a record quarter of both iPhone and Google (GOOG) Android phone activations, with AT&T activating a massive 7.6 million iPhones, compared to just 2.7 million during the third quarter."We had a tremendous year in terms of execution, and we have excellent momentum across our growth platforms," said Randall Stephenson, AT&T chairman and chief executive officer. "This was a blowout quarter for smartphone sales." AT&T, however, posted a net loss of $6.7 billion for the quarter, a loss of $1.12 per share, although this was impacted by charges related to the loss of benefit plans, impairments, and a one-time $4 billion charge related to the termination of the company's merger with T-Mobile. Excluding these items and a one-time 3 cent gain from a tax settlement, AT&T earned 42 cents a share, down from 55 cents a share in the year-earlier quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 43 cents a share. Nonetheless, AT&T registered some big wireless wins, racking up 717,000 wireless postpaid net adds, its largest increase in five quarters, and a 2.5 million increase in total net wireless subscribers. Investors pushed down the company's shares 51 cents, or 1.7%, to $29.70 in pre-market trading. Rival Verizon (VZ) also dipped below analysts' earnings estimates with its own fourth-quarter results, released earlier this week, yet registered strong revenue growth. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV