The Dallas-based telecom giant reported Q4 EPS of $0.66, which was in-line with the Wall Street consensus estimate of $0.66. Revenues fell 0.7% from last year to $41.84 billion, falling short of analysts’ $42.01 billion view.
AT&T noted that it added 2.8 million wireless net customers in the latest period, including 1.5 million in the U.S. and 1.3 million in Mexico. It also touted a strong DIRECTV NOW streaming TV service launch, with over 200,000 paid net adds. Finally, the company saw 235,000 U.S. DIRECTV satellite net adds, and 149,000 IP broadband net adds.
Looking ahead, AT&T forecast full-year 2017 revenue growth in the low-single digits, which matches Wall Street’s +1.5% view. It also sees adjusted EPS growth in the mid-single digit range, versus a consensus view of +4.2%.
The company commented via press release:
“2016 was a transformational year for AT&T, one in which we made tremendous progress toward our goal of becoming the global leader in telecom, media and technology,” said Randall Stephenson, AT&T Chairman and CEO. “We launched DIRECTV NOW, our innovative over-the-top streaming service. Our 5G evolution plans and improved spectrum position are paving the way for the next-generation of super-fast mobile and fixed networks. And we shook-up the industry with our landscape-changing deal to acquire Time Warner, the logical next step in our strategy to bring together world-class content with best-in-class distribution which will drive innovation and more choice for consumers.”
AT&T Inc. shares fell $0.39 (-0.94%) to $41.00 in after-hours trading Wednesday. Prior to today’s report, T had declined -1.55% year-to-date, versus a 2.70% rise in the benchmark S&P 500 index during the same period.
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