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United States : AT&T Reports Strong Subscriber Gains and Solid Revenue Growth in Fourth Quarter.

AT&T Inc. today reported solid fourth-quarter results with adjusted consolidated revenues up 4.5 percent, strong wireless net adds, record postpaid gross adds and upgrades and adjusted wireline revenue growth.

Over the last year, we ve made several moves to significantly transform our business for the future said Randall Stephenson, AT&T chairman and CEO. Our transactions with DIRECTV and Mexican wireless companies Iusacell and Nextel Mexico will make us a very different company. We ll be unique in the industry because we ll be able to offer integrated capabilities across a diversified base of services, customers, geographies and technology platforms. After we close DIRECTV, our largest revenue stream will come from business-related accounts, followed by U.S. TV and broadband, U.S. consumer mobility and then international mobility and TV.

We ended the year substantially complete with our Project VIP network initiative and with most of our postpaid smartphone customers off of device subsidy plans. As a result, our full-year performance saw record-low postpaid customer churn and best-ever wireless service margins all in a highly competitive wireless market.

For the quarter ended December 31, 2014, AT&T's consolidated revenues totaled $34.4 billion, up 3.8 percent versus the year-earlier period. When excluding the divested Connecticut wireline properties, revenues were up 4.5 percent. Compared with results for the fourth quarter of 2013, operating expenses were $40.0 billion versus $20.9 billion; operating loss was $5.6 billion versus operating income of $12.2 billion; and operating income margin was (16.1) percent versus 36.9 percent. On an adjusted basis, operating expenses were $29.5 billion, compared to $28.0 billion in the year-ago quarter; operating income was $4.9 billion versus $5.2 billion a year ago; and operating income margin was 14.2 percent versus 15.5 percent a year ago.

Fourth-quarter 2014 net loss attributable to AT&T totaled $4.0 billion, or $0.77 per diluted share, compared to net income of $6.9 billion, or $1.31 per diluted share in the year-ago quarter. Adjusting for $(0.94) from the non-cash actuarial loss on benefit plans, $(0.25) non-cash write-off of certain network assets, and $(0.13) for merger and integration-related expenses, the loss on the sale of Connecticut wireline operations, and other asset impairments, earnings per share was $0.55 compared to an adjusted $0.53 in the year-ago quarter.

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Publication:Mena Report
Article Type:Financial report
Date:Jan 28, 2015
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