AT&T Inc. (T) Q4 U.S. Wireless Net Adds 500,000 Above Estimates

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AT&T Inc. (NYSE:T) reported on its fourth quarter late Wednesday, posting encouraging results to finish 2017.

AT&T Inc. (T)The wireless carrier unveiled revenue of $41.68 billion for the period, topping the $41.19 billion that analysts polled by Thomson Reuters were calling for. Earnings were also strong at 78 cents per share on an adjusted basis, coming in ahead of the 65 cents per share that the Wall Street consensus estimate predicted, per Thomson Reuters.

Perhaps the most impressive metric of AT&T’s fourth quarter was the growth of its U.S. wireless subscribers, which rose by 2.7 million, beating the 2.2 million outlook that StreetAccount called for. All in all, the company added 4.1 million wireless customers for the period.

The company’s business in Mexico was also booming as it added 1.3 million new users south of the border, beating the 1.1 million guidance that analysts polled by StreetAccount had projected. AT&T’s postpaid churn rate was 0.89%, ahead of the 1.15% that StreetAccount forecasted.

In 2018, the carrier said it expects adjusted earnings of about $3.50 per share, stronger than the latest Wall Street forecast of $3.05 per share for AT&T’s full-year earnings.

Randall Stephenson, chairman and CEO of AT&T, believes the tax reform law and “regulatory rationalization” will have a positive effect on the company. The carrier recently said it will give $1,000 bonuses to more than 200,000 U.S. employees thanks to the tax reform.

T shares hiked up 3.5% after the bell on the news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/att-inc-t/.

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