AT&T Inc. (AT&T: T), reported positive fourth-quarter earnings Wednesday, which highlighted modest subscriber growth as well as its strong business model and hefty cash flow position. AT&T plans to continue investing in key 5G locations, fiber, and HBO Max and shift its business amid the changing market, in order to boost growth.
The American multinational conglomerate holding company reported earnings of USD0.78 per share, compared to the expected USD0.76 a share. Revenue amounted to USD40.96 Billion, higher than analysts anticipated USD40.45 Billion.
“A year and a half ago, we began simplifying our business to reposition AT&T for growth and we’re extremely pleased with how we’ve executed on that commitment,” said John Stankey, AT&T CEO. “We ended 2021 the way we started it – by growing our customer relationships, running our operations more effectively and efficiently, and sharpening our focus. Our momentum is strong and we’re confident there is more opportunity to continue to grow our customer base and drive costs from the business.”
Additionally, AT&T updated its guidance regarding the potential closure of the WarnerMedia merger with Discovery. After previously stating that the deal would close in mid-2022, it “now expects to close in the second quarter.”
“We’re at the dawn of a new age of connectivity. Our focus now is to be America’s best connectivity provider and also ensure our media assets are positioned to grow and truly become a global media distribution leader. Once we do this, we’ll unlock the true value of these businesses and provide a great opportunity for shareholders,” Stankey said.