Giant Headline Loss Dominates AT&T Earnings (T, VZ, AMZN)
AT&T Inc. (NYSE: T) is out with a huge headline loss due to that $4 billion break-up fee paid charge from the failed T-Mobile merger. The headline loss is -$1.12 EPS and the total loss after all items was called…
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Unfortunately, AT&T is trailing Verizon Communications Inc. (NYSE: VZ) in quarterly net additions of postpaid customers: 717,000 versus 1.2 million at Verizon. This was still the largest increase for AT&T in over a year and is part of a larger figure of about 2.5 million. About one million of the total additions was from devices such as the Kindle from Amazon.com Inc. (NASDAQ: AMZN). AT&T also claims to have activated over 7.6 million iPhones, mostly the new iPhone 4S, and it sold some 9.4 million smartphones during the fourth quarter.
A huge headline loss cannot be much of a surprise to anyone who has been watching the news. The amount still seems a bit shocking on the surface. AT&T shares are trading down about 2.3% at $29.50 or so in the early pre-market trading session.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
