AT&T (T) posted better-than-expected financial results for the fourth quarter of 2024 as its subscriber numbers rose to end the year.
The Dallas, Texas-based telecommunications company reported earnings per share (EPS) of $0.54 U.S., which beat the $0.50 U.S. consensus forecast on Wall Street.
Revenue in the quarter totaled $32.30 billion U.S., which was slightly ahead of the $32 billion U.S. expected among analysts.
AT&T attributed the decent results to gains in its fifth generation (5G) wireless and fibre optic internet subscribers.
Management said they added 482,000 net new mobile phone customers and 307,000 fibre internet customers during Q4 2024, with both figures coming in above analyst forecasts.
Mobile phone service revenue increased 3.3% from a year ago to $16.60 billion U.S., and consumer broadband revenue rose 7.8% from a year ago to $2.90 billion U.S.
AT&T’s full-year earnings per share of $2.26 U.S. also topped the guidance of $2.20 U.S. to $2.25 U.S. a share it had issued at an investor day event last December.
In terms of forward guidance, AT&T said it expects earnings per share of $1.97 U.S. to $2.07 U.S. for all of 2025.
The company added that it still expects to complete the sale of its 70% stake in the digital satellite service to private-equity investor TPG (TPG) in mid-2025.
The stock of AT&T has gained 32% over the last 12 months to trade at $22.72 U.S. per share.
