AT&T (NYSE:T) earnings for the wireless company’s fourth quarter of 2019 have T stock falling on Wednesday. This comes after reporting adjusted earnings per share of 89 cents. That’s better than Wall Street’s estimate of 87 cents. On the other hand, its revenue of $46.82 billion is below analysts’ estimates of $46.96 billion.
Here’s are some additional highlights from the most recent AT&T earnings report.
- Adjusted per-share earnings are up 3.49% from 86 cents during the same time last year.
- Revenue for the quarter is sitting 2.44% lower than the $47.99 billion from Q4 2018.
- Operating income of $5.32 billion is a 13.64% drop YoY from $6.16 billion.
- The AT&T earnings report also has it bringing in a net income of $2.70 billion.
- That’s 47.37% worse than the company’s net income of $5.13 billion from the same period of the year prior.
Randall Stephenson, Chairman and CEO of AT&T, says this about the Q4 T Stock earnings report.
“We delivered what we promised in 2019 and we begin this year with strong momentum in wireless, with HBO Max set to launch in May and our share retirement plan well underway. “Our 2020 outlook positions us to deliver meaningful progress on our 3-year financial and capital allocation plans as we continue to invest in growth opportunities and create value for our owners, as we did last year.”
The outlook in the AT&T earnings report includes an adjusted EPS of $3.60 to $3.70. That’s looking good next to Wall Street’s estimate of $3.60 per share for the year.
T stock was down 3.71% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.