After markets closed Wednesday, AT&T Inc. (T
) reported Q3 earnings, with both EPS and revenues falling right in line with analyst expectations.
T’s Q3 Earnings in Brief
- EPS came in at $0.66 while revenues hit $32.16 billion, the exact results that the street was looking for. Diluted EPS grew 14.3% from Q3 2012 while revenues were up 2.2% from the year prior.
- T’s popular U-verse service hit a milestone with its first billion-dollar revenue month, up a handsome 28.1% year-over-year. There are now approximately 10 million subscribed to the U-verse service.
- Wireless revenues are up 5.1% from the same quarter a year ago while wireless data revenues are up 17.6% from the same quarter in 2012.
CEO Commentary
CEO and Chairman Randall Stephenson had the following to say about T’s earnings: “We're setting the standard for 4G LTE speeds and network reliability. Our fiber and U-verse expansion projects are ahead of schedule bringing high-speed broadband to millions more customers. With these initiatives, we're seeing excellent growth across our major platforms — mobility, U-verse and strategic business services."
T’s Dividend
AT&T Inc.’s dividend remained unchanged, with a payout of 45 cents per quarter, or $1.80 per year. Note that the company has grown its dividend for 28 straight years, since the close of the 1985 fiscal year.
Shares Flat
Immediately after the report was released, T’s stock had a very muted reaction, falling by just a few pennies. Despite hitting analyst estimates and recording record U-verse growth, investors seemed neutral on the earnings results. The stock is up 4.6% YTD.
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