DALLAS (dpa-AFX) - AT&T Inc. (T) announced, on a business-as-usual basis without the impact of Time Warner, the company expects in 2017: consolidated revenue growth in the low-single digits; adjusted EPS growth in the mid-single digit range; and free cash flow in the $18 billion range.
Fourth-quarter net income attributable to AT&T totaled $2.4 billion, or $0.39 per diluted share, compared to $4.0 billion, or $0.65 per diluted share, in the year-ago quarter. Adjusting for the $0.10 non-cash actuarial loss on benefit plans from the annual remeasurement process and $0.17 of costs for amortization, merger-and integration-related and other items, earnings per share was $0.66 compared to an adjusted $0.63 in the year-ago quarter. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.66 for the quarter. Analysts' estimates typically exclude special items.
AT&T's consolidated revenues for the fourth quarter totaled $41.8 billion versus $42.1 billion in the year-ago quarter. Analysts expected revenue of $42.04 billion for the quarter.
For full-year 2016, AT&T's consolidated revenues totaled $163.8 billion versus $146.8 billion, up 11.6% for the year, driven by a full year of results from DIRECTV and gains in IP services and video. Net income attributable to AT&T was $13.0 billion versus $13.3 billion, down 2.8%; and earnings per share was $2.10, compared with $2.37. With adjustments for both years, earnings per share totaled $2.84, compared with $2.71, an increase of 4.8%.
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