- As AT&T (T) posted better-than-expected fourth quarter earnings, its shares rose by 5.1% on Wednesday, a seven-month high. The company has listed paying down debt as a top priority after meeting dividend payments.
- AT&T’s earnings for the three months ending in December were pegged at 61 cents/share, and were 9% from last year. Meanwhile, the debt was pegged at $132B, and 2022 free cash flows came in at $14B after dividends. Over the last 10 quarters, AT&T has successfully added 7.5M postpaid and 2.9M AT&T Fiber net subscribers.
Why it matters
AT&T’s CEO has reiterated its commitment to expanding the 5G and fiber technology to more people in 2023.