Shares rose more than 3 percent after hours.
AT&T on Wednesday reported its fourth quarter financial results that beat market expectations.
The company reported adjusted earnings of 78 cents per share on revenue of $41.68 billion. A year prior, the company reported 66 cents per share on revenue of $41.8 billion.
Wall Street was expecting earnings of 75 cents per share on revenue of $40.1 billion.
Operating expenses for the quarter were $41.3 billion, compared with $37.6 billion a year prior.
For its full year, AT&T reported adjusted earnings of $3.05 per share on revenue of $160.5 billion. A year prior, the company reported $2.84 per share on revenue of $163.8 billion. AT&T said the full year revenue showed a slight decline due to declines in legacy wireline and wireless services revenues.
« The impact of tax reform and regulatory rationalization will be substantial and positive for the U. S. economy and AT&T, » Randall Stephenson, AT&T Chairman and CEO, said in a statement. « Our FirstNet win and the opt-in by 100 percent of all states and territories will enable us to put the industry’s most robust spectrum assets to work in building a best-in-class nationwide network for public safety and first responders. On the Time Warner front, we look forward to presenting our case in court and closing the deal. »
AT&T said it added 4.1 million wireless customers in the fourth quarter, with 2.7 million from the US and nearly 1.3 million from Mexico. AT&T’s wireless cancellation rate was 0.89 percent, its best ever in the fourth quarter.
For fiscal 2018, AT&T expects adjusted EPS in the $3.50 range and free cash flow of about $21 billion.
