Key points:
- AT&T reports Q4 EPS of $0.78
- Reports Q4 revenue of $41 billion
- AT&T shares rise premarket
- AT&T Stock Forecast
AT&T (NYSE: T) announced an earnings per share of $0.78 before the opening bell on Wednesday, with revenue coming in at $40.96 billion.
The numbers reported were a beat on the anticipated EPS of $0.76 and revenue of $40.43 billion.
In the 4th quarter, the company said it experienced continuing customer growth in wireless, fiber, and its HBO Max products.
In reaction to the report, AT&T's share price has risen 2% premarket to $27.05.
Also Read: 3 Clean Energy Stocks For 2022
“A year and a half ago, we began simplifying our business to reposition AT&T for growth and we're extremely pleased with how we've executed on that commitment,” said John Stankey, AT&T CEO.
“We ended 2021 the way we started it – by growing our customer relationships, running our operations more effectively and efficiently, and sharpening our focus. Our momentum is strong and we're confident there is more opportunity to continue to grow our customer base and drive costs from the business,” he added.
In its guidance, AT&T said it expects to report a 2022 adjusted EPS between $3.10 and $3.15, below the $3.21 consensus. In addition, consolidated revenue growth is forecast to be in the low-single digits range compared to 2021 consolidated revenues of $153.2 billion, which excludes U.S. Video and Vrio.
