Categories Earnings, Other Industries

AT&T beats Q4 earnings estimates; revenues miss expectations

AT&T Inc. (NYSE: T) beat earnings expectations for the fourth quarter of 2019 while revenues fell short of forecasts. Shares dipped slightly by 0.23% in premarket hours on Wednesday.

Total revenue amounted to $46.8 billion compared to $48 billion in the prior-year period, which was below estimates of $46.9 billion. Excluding HBO Max investment, revenues totaled $48 billion.

AT&T reports Q4 2019 earnings results

The company saw growth in revenues from domestic wireless services and strategic and managed business services, which was partly offset by revenue declines in domestic video, legacy wireline services and WarnerMedia.   

Net income attributable to common stock was $2.4 billion, or $0.33 per share, compared to $4.9 billion, or $0.66 per share, last year. Adjusted EPS was $0.89, above forecasts of $0.87.  

Also see: AT&T Q4 2019 Earnings Preview

In the Communications segment, mobility service revenues were up 1.8% in the quarter while total wireless revenues rose 0.8%. In the Entertainment Group, IP broadband revenue grew 2.7%. In WarnerMedia, Turner revenues grew 1.6% with gains in subscription revenue. HBO revenues increased 1.9% with gains in digital subscribers.  

AT&T expects revenue to grow 1-2% in 2020. Adjusted EPS is expected to be $3.60 to $3.70, including HBO Max investment.

As part of its three-year financial guidance, AT&T expects to achieve adjusted EPS of $4.50-$4.80 by 2022. Revenue is expected to grow 1-2%.  

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Kin Insurance’s strategy is focused on growing in catastrophe-exposed states: CEO Sean Harper

Kin Insurance is a leading insurance technology company specialized in high-risk residential areas. The direct-to-consumer business model and use of advanced technology allow the company to offer affordable pricing without

Infographic: Key highlights from Best Buy (BBY) Q1 2023 earnings results

Best Buy Co., Inc. (NYSE: BBY) reported first quarter 2023 earnings results today. Enterprise revenue dropped to $10.6 billion from $11.6 billion in the year-ago period. Comparable sales were down

AutoZone (AZO) Q3 Earnings: Key financials and quarterly highlights

AutoZone, Inc. (NYSE: AZO) reported third quarter 2022 earnings results today. Net sales increased 5.9% year-over-year to $3.9 billion. Domestic same-store sales increased 2.6%. Net income decreased 0.6% to $592.6 million, while

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top