AT&T Q4 Profit Tops Estimates; Reaffirms 2020 Guidance

(RTTNews) - AT&T Inc. (T) reported fourth-quarter adjusted earnings per share $0.89 compared to $0.86, a year ago, an increase of 3.5%. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items.

For the fourth-quarter, consolidated revenues were $46.8 billion; or $48.0 billion excluding HBO Max investment compared to $48.0 billion, last year. Analysts expected revenue of $46.96 billion for the quarter. Mobility recorded 229,000 postpaid phone net adds, during the quarter.

For fiscal 2020, AT&T continues to project: adjusted EPS in a range of $3.60 to $3.70, including HBO Max investment; and revenue growth in a range of 1% to 2%. Over 3-year period, AT&T projects: adjusted earnings per share growth, with $4.50 to $4.80 by 2022; including HBO Max investment; and revenue growth every year: 1% to 2% three-year CAGR.