Despite the challenging macroeconomic environment, AT&T Inc.’s (T) EPS surpassed the consensus EPS estimate by 6.6% in the fourth quarter. However, its revenue missed analyst estimates by 0.1%.
Post its earnings release T’s CEO, John Stankey, said, “Our consistent go-to-market strategy and the simplicity of our offerings drove continued robust, high-quality wireless and fiber customer additions in the fourth quarter. Over the last ten quarters, we’ve demonstrated sustainable momentum in growing customer relationships, with 7.5 million postpaid phone net adds and 2.9 million AT&T Fiber net adds.”
In the fourth quarter, the company’s postpaid phone net adds stood at 656,000, and 2.9 million for fiscal 2022. T’s Fiber net adds came in at 280,000 for the fourth quarter, recording over 200K net adds in the twelfth consecutive quarter. Also, fiber net adds for fiscal 2022 stood at 1.2 million, posting the fifth straight year of 1 million or more.
T’s free cash flow at the end of fiscal 2022 came in at $14.10 billion, higher than analyst estimates of $13.78 billion. Its domestic wireless service revenues increased 5.2% in the last quarter and 5.1% for the entire year. Consumer broadband revenues rose 7.2% in the fourth quarter, driven by…
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