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.

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
Salesforce Q3 2024 earnings increase on higher revenues, beat estimates
Customer relationship management platform Salesforce, Inc. (NYSE: CRM) reported higher earnings and revenues for the third quarter of 2024. Earnings also topped expectations. Third-quarter profit, excluding non-recurring items, increased to
AutoZone (AZO) to report Q1 2024 earnings next week. Here’s what to expect
Auto parts retailer AutoZone, Inc. (NYSE: AZO) is preparing to report first-quarter results next week, after delivering better-than-expected quarterly earnings consistently in recent years. Analysts forecast an increase in profit
Key takeaways from Hormel Foods’ (HRL) Q4 2023 earnings report
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 4% on Wednesday after the company delivered fourth quarter 2023 earnings results that fell below expectations. The stock has dropped