AT&T Turns To Profit In Q4; Guides FY22 Below Estimates - Quick Facts

(RTTNews) - Telecom giant AT&T, Inc. (T) reported on Wednesday a net income attributable to common stock for the fourth quarter of $4.99 billion or $0.69 per share, compared to a net loss of $13.94 billion or $1.95 per share in the prior-year quarter.

Excluding other items, adjusted earnings was $0.78 per share, compared to $0.75 per share in the year-ago quarter.

Total operating revenues for the quarter declined 10.4 percent to $40.96 billion from $45.69 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share on revenues of $40.43 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, including WarnerMedia and Xandr, the company now projects adjusted earnings in a range of $3.10 to $3.15 per share on consolidated revenue growth in the low-single digits range, with revenue contribution for WarnerMedia and Xandr in the $37 billion to $39 billion range.

The Street is looking for earnings of $3.21 per share on a revenue decline of 6.1 percent to $158.1 billion for the year.