AT&T Posts Q4 Loss; But Results Beat Estimates
DALLAS (dpa-AFX) - AT&T Inc. (T) Wednesday reported a loss for its fourth-quarter compared to a profit in the prior year, due to non-cash asset impairments and impact of lower revenue. Quarterly revenues declined 2.4 percent, hurt by the COVID-19 pandemic across all segments.
Both quarterly adjusted earnings per share and revenue beat analysts' expectations.
In Wednesday pre-market trade, T was trading at $29.07, down $0.64 or 2.15 percent.
Looking ahead for 2021, the company expects adjusted earnings per share to be stable with 2020, consolidated revenue growth in the 1 percent range.
The company expects operating results and cash flows to continue to be adversely impacted by COVID-19 for the duration of the pandemic.