AT&T (NYSE: T) reported fourth-quarter 2020 financial results before the regular market hours on Wednesday. The telecommunications giant reported fourth-quarter revenue of $45.7 billion, down 2% year-over-year, but above the Wall Street projection. Net income of $0.75 per share was also higher than what analysts had anticipated.
T shares fell over 2% immediately following the announcement. The stock has declined about 21% in the trailing 12 months.
CEO John Stankey said, “By investing in our high-quality wireless customer base, we had our best full-year of postpaid phone net adds in a decade and our second lowest postpaid phone churn ever. Our fiber broadband net adds passed the 1 million mark for the year.”
“And the release of Wonder Woman 1984 helped drive our domestic HBO Max and HBO subscribers to more than 41 million, a full two years faster than our initial forecast,” he added.
For 2021, the company said it expects consolidated revenue growth of about 1%, while adjusted EPS is projected to be on par with last year.
Prior performance
Most Popular
Earnings calendar for the week of June 14
Latest economic data evoked mixed sentiment this week -- the rebound in economic activity has raised inflation concerns while jobless claims declined for the sixth week in a row. The
GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth
Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first
Should you invest in Steel Dynamics (STLD) stock after 78% rally?
The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive
