AT&T Inc. (T) Adds 73,000 U-verse TV Subscribers In 4Q
AT&T Inc. (NYSE:T) disclosed that the company was able to add 73,000 U-verse TV subscribers during the fourth quarter. Net addition for U-verse high-speed Internet subscriber was 405,000. As a result, there were over 12 million subscribers for U-verse high-speed Internet.
Total revenue for AT&T Inc. (NYSE:T) from U-verse was $3.9 billion and represented 21.9% growth on an adjusted basis year-over-year. On an annualized revenue stream, it meant over $15 billion.
The company indicated that over two million fresh wireline high-speed broadband and wireless connections were added during the December quarter. In the wireless segment, the total net addition was 1.9 million for the fourth quarter.
AT&T Inc. (NYSE:T)’s chairman and CEO, Randall Stephenson, said that the company has effected several changes to transform itself for the future. He said that the company ended the December quarter considerably complete with its initiative of Project VIP network. Stephenson also said that most of its postpaid smartphone customers were off of the gadgets’ subsidy plans. For this reason, its full-year performance witnessed a record-low postpaid customer churn besides the best-ever wireless service margins. Significantly, these things came at a highly competitive market conditions for wireless division.
The telecom service provider said that its deal with Mexican wireless firms, Lusacell, and Nextel Mexico, and DIRECTV (NASDAQ:DTV) allow them to be a different company. The CEO indicated that once its closes transaction with DIRECTV, its biggest revenue stream would come from business-associated accounts. This would be followed by TV and broadband in the United States, consumer mobility and global mobility and TV.
AT&T said that it suffered a net loss of $3.8 billion or a loss of 77 cents a share versus net income of $7.0 billion or $1.31 a share in the year-ago quarter, due to non-cash charges. On an adjusted basis, the company’s earnings would have been 55 cents a share compared to 53 cents a share in the previous year quarter.
The company previously announced that it would take a $7.9 billion noncash, pretax loss related to an adjustment in assumptions made for its pension plan. Lower interest rates in addition to a change by the Actuarial society requiring longer life span assumptions played a role. In January 2013, AT&T also recorded a $10 billion 4th quarter charge related to pension and postretirement benefit plans.
The company’s Top line delivered 3.8% growth in revenue to $34.4 billion. On an adjusted basis, net revenue growth would have improved 4.5%. Wall Street analysts’ predicted the company to report earnings of 55 cents a share on revenue of $34.26 billion. The company said that full-year capital investment of over $21 billion and exceeded project VIP objectives.
AT&T Inc. (NYSE:T) is looking forward to achieving adjusted earnings growth of a low-single-digit in 2015 with continued focus on consolidated revenue uptick besides expanding margins. Street expects earnings of $2.55 a share on revenue uptick of 2.0%.
Latest posts by Viraj Shah (see all)
- Tesla Motors Inc (NASDAQ:TSLA)’s Elon Musk Is Going After Semi Truck Industry - November 17, 2017 04:37 AM PST
- Tesla Motors Inc (NASDAQ:TSLA) Is Not “Hotbed for Racist Behavior” - November 15, 2017 06:58 AM PST
- Nikola Tesla and Tesla Motors Inc (TSLA) – The Past & Future of the World You Cannot Ignore- Part 1 - May 15, 2017 05:11 AM PST