At&t reports fourth-quarter and full-year results

Continued strong subscriber growth   656,000 postpaid phone net adds; nearly 2.9 million for the full year 280,000 at&t fiber net adds, 12 straight quarters with more than 200,000 net adds; more than 1.2 million net adds for full-year 2022, fifth straight year with 1 million or more at&t fiber net adds subscriber additions driving revenue growth   domestic wireless service revenues up 5.2%; 5.1% for the full year consumer broadband revenues up 7.2% driven by at&t fiber revenue growth of more than 31%; full-year broadband revenues grew 6.4% with at&t fiber revenues up nearly 29% network deployment on or ahead of schedule   mid-band 5g spectrum covering 150 million people, more than two times higher than original end-of-year target ability to serve more than 19 million consumer locations and more than 3 million business customer locations in more than 100 u.s. metro areas with fiber transformation supporting margin growth   achieved more than $5 billion of $6 billion-plus run-rate cost savings target at year end fourth-quarter consolidated results revenues from continuing operations1 of $31.3 billion reported eps from continuing operations of ($3.20) 2 due to non-cash charges compared to $0.66 in the prior year adjusted eps* from continuing operations of $0.61 compared to $0.56 in the prior year cash from operating activities from continuing operations of $10.3 billion capital expenditures from continuing operations of $4.2 billion; capital investment* from continuing operations of $4.7 billion free cash flow* from continuing operations of $6.1 billion full-year consolidated results revenues from continuing operations of $120.7 billion reported eps from continuing operations of ($1.10) 2 due to non-cash charges adjusted eps* from continuing operations of $2.57 cash from operations of $35.8 billion capital expenditures of $19.6 billion; capital investment * of $24.3 billion free cash flow* of $14.1 billion 2023 outlook – continuing operations for the full year at&t expects: wireless service revenue growth of 4% or higher broadband revenue growth of 5% or higher adjusted ebitda * growth of 3% or higher capital investment * of about $24 billion, consistent with 2022 levels free cash flow * of $16 billion or better, up $2 billion from 2022 adjusted eps * of $2.35 to $2.45, which includes an expected ($0.25) of impacts from higher non-cash pension costs related to higher interest rates, lower capitalized interest and impacts from an expected higher effective tax rate of 23% to 24% note: at&t's fourth-quarter earnings conference call will be webcast at 8:30 a.m. et on wednesday, january 25, 2023.
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