AT&T Inc. reported a significant recovery in its financial performance for the fourth quarter of 2023, with income from continuing operations reaching $2.6 billion, or $0.30 per diluted share. This marks a substantial turnaround from the reported loss of $(23.1) billion, or $(3.20) per share, in the same quarter of the previous year. The improvement was attributed to a combination of factors, including growth in Mobility and Consumer Wireline revenues, as well as a decrease in operating expenses due to prior-year noncash goodwill impairment charges and benefits from ongoing transformation efforts. For the full year 2023, AT&T's income from continuing operations was $15.6 billion, contrasting sharply with a loss of $(6.9) billion in 2022. Operating revenues for Q4 2023 were $32.0 billion, a 2.2% increase from Q4 2022, and full-year...Show More

AT&T Inc. reported a significant recovery in its financial performance for the fourth quarter of 2023, with income from continuing operations reaching $2.6 billion, or $0.30 per diluted share. This marks a substantial turnaround from the reported loss of $(23.1) billion, or $(3.20) per share, in the same quarter of the previous year. The improvement was attributed to a combination of factors, including growth in Mobility and Consumer Wireline revenues, as well as a decrease in operating expenses due to prior-year noncash goodwill impairment charges and benefits from ongoing transformation efforts. For the full year 2023, AT&T's income from continuing operations was $15.6 billion, contrasting sharply with a loss of $(6.9) billion in 2022. Operating revenues for Q4 2023 were $32.0 billion, a 2.2% increase from Q4 2022, and full-year revenues were $122.4 billion, up 1.4% from the previous year. The company also reported a net gain of 5.9 million wireless subscribers in the fourth quarter, with a total of 241.5 million subscribers by the end of 2023. AT&T's capital expenditures for 2023 totaled $17.9 billion, with a combined capital investment of $23.6 billion when including cash paid for vendor financing. The report was filed with the SEC on January 24, 2024, and includes detailed financial statements and operating data for the period.