AT&T posts 4Q profit, higher revenue

Published on NewsOK Modified: January 28, 2014 at 4:58 pm •  Published: January 28, 2014
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NEW YORK (AP) — AT&T posted stronger-than-expected earnings for the final quarter of 2013, helped by higher revenue from mobile and Internet service subscribers.

The nation's biggest telecommunications company said Tuesday that it earned $6.9 billion, or $1.31 per share, in the October-December period. That's up from a loss of $3.8 billion, or 68 cents per share, in the same period a year earlier.

The latest quarter's results included a pension-related gain of $7.6 billion, tax expenses and other items. Excluding these items, adjusted earnings were 53 cents per share in the latest quarter, beating analysts' expectations by 2 cents. The year-ago results included a loss of $10 billion related to pension accounting.

Revenue rose 2 percent to $33.2 billion from $32.6 billion.

Analysts on average were expecting revenue of $33.1 billion, according to FactSet.

Wireless revenue, which includes equipment sales, grew 5 percent to $18.4 billion from $17.6 billion.

AT&T said it added 809,000 net wireless subscribers in the fourth quarter. It added 566,000 wireless devices to its contract-based plans, which are the most lucrative. Of these 299,000 were smartphones and the rest tablets, which carry lower monthly fees than phones. AT&T is the second-largest cellphone company in the U.S. after Verizon Wireless.



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