AT&T Inc. T just released its fourth quarter fiscal 2016 financial results, posting adjusted earnings, before non-recurring items, of 66 cents per share and revenues of $41.8 billion. Currently, T is a #3 (Hold) on the Zacks Rank, and is flat in trading shortly after its earnings report was released.
Matched earnings estimates. The company posted adjusted earnings of 66 cents per share, matching the Zacks Consensus Estimate of 66 cents per share. This number excludes 27 cents from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $41.8 billion, lagging behind our consensus estimate of $42.113 billion and falling 0.8% year-over-year.
AT&T reported a total of 2.8 million wireless net adds (1.5 million in the U.S. and 1.3 million in Mexico) in Q4, and added 1.1 million branded smartphones to its base during the quarter
Looking ahead, AT&T expects consolidated revenue growth in the low-single digits, and adjusted EPS growth in the mid-single digit range for fiscal 2017.
"2016 was a transformational year for AT&T, one in which we made tremendous progress toward our goal of becoming the global leader in telecom, media and technology," said Randall Stephenson, AT&T Chairman and CEO. "We launched DIRECTV NOW, our innovative over-the-top streaming service. Our 5G evolution plans and improved spectrum position are paving the way for the next-generation of super-fast mobile and fixed networks."
Here's a graph that looks at AT&T's price, consensus, and EPS surprise:
AT&T Inc. Price, Consensus and EPS Surprise
AT&T is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation's fastest 3G network and the best wireless coverage worldwide, and the nation's leading high speed Internet access and voice services. As part of their three-screen integration strategy, AT&T operating companies are expanding their TV entertainment offerings.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today's most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.