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| [January 26, 2012] |
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Best-Ever Mobile Broadband Sales and Strong Cash Flows Highlight AT&T's Fourth-Quarter Results; Stock Buyback Begins on Previous 300 Million Share Authorization
DALLAS --(Business Wire)--
AT&T
Inc. (NYSE:T) today reported fourth-quarter results highlighted by
record mobile
broadband sales, strong wireless network performance and improved
wireline revenue trends.
"We had a tremendous year in terms of execution, and we have excellent
momentum across our growth platforms," said Randall
Stephenson, AT&T chairman and chief executive officer. "This was a
blowout quarter for smartphone
sales. Our network performance is at a high level on voice quality and
best-in-class mobile download speeds. U-verse
sales continue to be strong and business revenue trends are on a good
track.
"Looking ahead, we start 2012 with the best visibility we've had in some
time, and we're well positioned to deliver solid results - including
continued revenue growth with margin expansion, solid earnings per share
growth and strong cash flow," Stephenson said. "In short order, we will
begin share repurchases to deliver significant value to our owners."
Fourth-Quarter Financial Results
For the quarter ended December 31, 2011, AT&T's consolidated revenues
totaled $32.5�billion, up $1.1 billion, or 3.6 percent, versus the
year-earlier quarter.
Compared with the fourth quarter of 2010, operating expenses were
$41.5�billion versus $29.3�billion; operating loss was $9.0 billion,
compared to operating income of $2.1�billion; and AT&T's operating
income margin was (27.7)�percent, compared to 6.7�percent. Excluding
fourth-quarter significant items, operating expenses were $28.1�billion
versus $25.8�billion; operating income was $4.4�billion, compared to
$5.6�billion; and operating income margin was 13.5�percent, compared to
17.7�percent.
Fourth-quarter 2011 net income attributable to AT&T totaled
$(6.7)�billion, or $(1.12) per diluted share. Excluding significant
non-cash charges of $0.65 from the actuarial loss on benefit plans and
$0.48 for directory asset impairments, along with a one-time charge of
$0.44 for termination of the T-Mobile USA acquisition and a one-time
gain of $0.03 from a tax settlement, adjusted earnings per share was
$0.42.
(The actuarial loss on benefit plans was driven by a reduction in the
discount rate from 5.8 percent to 5.3 percent. While our investment
returns were better than the overall market, they were less than
expectations; this was largely offset by better-than-expected force and
medical cost management. The directory asset impairment resulted from an
annual review of intangible assets compared to fair value.)
These results compare with reported net income attributable to AT&T of
$1.1�billion, or $0.18 per diluted share, in the fourth quarter of 2010.
Excluding significant items, earnings per share for the fourth quarter
of 2010 was $0.55 per diluted share.
Fourth-quarter 2011 cash from operating activities totaled $7.5�billion,
and capital expenditures totaled $5.5�billion. Also included in the
fourth quarter, the company made a $1.0 billion contribution to the
company's pension fund. No additional funding is required in 2012. Free
cash flow - cash from operating activities minus capital expenditures -
totaled $2.0�billion.
Full-Year Results
For the full year 2011, compared with 2010 results, AT&T's consolidated
revenues totaled $126.7�billion versus $124.3�billion, up 2.0 percent;
operating expenses were $117.5�billion, compared with $104.7�billion;
net income attributable to AT&T was $3.9�billion versus $19.9�billion;
and earnings per diluted share was $0.66 compared with $3.35. Excluding
significant items, earnings per share totaled $2.20, compared with $2.29.
Compared with 2010 results, AT&T's full-year cash from operating
activities totaled $34.6�billion, down from $35.0�billion. Capital
expenditures, including capitalized interest, totaled $20.3�billion
versus $20.3�billion, including a 6.4�percent increase in
wireless-related capital investment versus 2010, as AT&T aggressively
deployed next-generation mobile broadband networks. Free cash flow
totaled $14.4�billion, compared with $14.7�billion.
Outlook
AT&T is well positioned to deliver solid revenue and earnings growth
with improving margins while returning substantial value to shareowners.
In 2012, AT&T expects continued consolidated revenue growth, including
postpaid wireless ARPU growth around 2 percent for the year. The company
also expects to expand consolidated and wireless margins while keeping
wireline margins stable. Achieving these targets will lead to
mid-single-digit or better earnings growth with an opportunity to
accelerate earnings growth beyond 2012. Outlook excludes any significant
items. Importantly, little economic lift is assumed with these
expectations.
AT&T expects capital expenditures to be about $20 billion, stable with
2011, as increases in wireless spending offset declines in wireline
capital expenditures. The company also expects strong free cash flow,
with full-year free cash flow in the $15 to $16 billion range, and plans
to begin execution of its existing 300 million share repurchase
authorization immediately.
WIRELESS OPERATIONAL HIGHLIGHTS
Record-setting mobile broadband sales and the company's best postpaid
subscriber growth in five quarters drove double-digit wireless revenue
growth. AT&T continues to lead the industry in smartphone penetration,
mobile broadband sales and postpaid ARPU. Highlights included:
Best Postpaid Growth in Five Quarters. AT&T posted a net increase
in total wireless subscribers of 2.5�million in the fourth quarter to
reach 103.2�million in service. This included gains in every customer
category. Subscriber additions for the quarter include postpaid net adds
of 717,000, the best gain in five quarters. Prepaid net adds were
159,000, connected device net adds were 1,029,000 and reseller net adds
were 592,000. Fourth-quarter net adds reflect accelerated adoption of
smartphones, including the October launch of iPhone 4S, increases in
prepaid and reseller subscribers and sales of tablets and connected
devices such as automobile monitoring systems, security systems and a
host of other emerging
products.
Record Quarter for Smartphone Sales. AT&T delivered its best-ever
smartphone sales quarter - up nearly 60 percent from the year-ago
period. (Smartphones are devices with voice and data capabilities and
an advanced operating system to better manage data and Internet access.)
In the fourth quarter, the company set a new record with 9.4�million
smartphones sold, nearly double the number sold in the third quarter and
50 percent more than the previous quarterly record. Fourth-quarter
smartphone sales represented more than 80 percent of postpaid device
sales. Both iPhone and Android device sales set records. During the
quarter, more than 7.6�million iPhones were activated, the majority of
which were iPhone
4S, which went on sale Oct. 14, and more than twice as many Android
smartphones were sold versus the fourth quarter a year ago. iPhone sales
were helped by a superior customer experience, with AT&T delivering
download speeds up to three-times faster than on other U.S. carriers'
networks.
At the end of the quarter, 56.8�percent of AT&T's 69.3�million postpaid
subscribers had smartphones, up from 42.7�percent a year earlier and
32.8 percent two years ago. The average ARPU for smartphones on AT&T's
network is 1.9�times that of the company's non-smartphone devices. About
87�percent of smartphone subscribers are on FamilyTalk®
or business plans. Churn levels for these subscribers are significantly
lower than for other postpaid subscribers.
Best-Ever Quarter for Branded Computing Device Sales. AT&T had
its best sales quarter ever for branded computing subscribers, a new
growth area for the company that includes tablets, aircards, mobile Wi-Fi
hot spot devices, tethering plans and other data-only devices. AT&T
added 571,000 of these devices to reach 5.1�million, an almost 70
percent increase in total subscribers from a year ago. Most of those new
subscribers were tablets, with 311,000 added in the quarter, more than
half of which were postpaid.
Double-Digit Growth for Wireless Revenues. Total wireless
revenues, which include equipment sales, were up 10.0�percent year over
year to $16.7�billion. Wireless service revenues increased 4.0�percent,
to $14.3�billion, in the fourth quarter.
Wireless Data Revenues Increase 19.4 Percent. Wireless data
revenues - driven by Internet access, access to applications, messaging
and related services - increased by $956 million, or 19.4�percent, from
the year-earlier quarter to $5.9�billion. AT&T's postpaid wireless
subscribers on monthly data plans increased by 16.4�percent over the
past year. The number of subscribers on tiered data plans also continues
to increase. About 22 million, or 56 percent, of all smartphone
subscribers are on tiered data plans, and about 70 percent have chosen
the higher-tier plans.
Industry-Leading Postpaid ARPU Continues Growth. Driven by strong
data growth, postpaid subscriber ARPU increased 1.4�percent versus the
year-earlier quarter to $63.76. This marked the 12th
consecutive quarter AT&T has posted a year-over-year increase in
postpaid ARPU. AT&T continues to lead the industry with postpaid
subscriber ARPU about $6 higher than the nearest competitor. Postpaid
data ARPU reached $26.01, up 14.9�percent versus the year-earlier
quarter.
Postpaid Churn Up Only Slightly. Despite record smartphone sales
and the first holiday sales period since the loss of AT&T's iPhone
exclusivity, postpaid churn was up only slightly at 1.21�percent,
compared to 1.15�percent in both the year-ago fourth quarter and in the
third quarter of 2011. Total churn was up slightly at 1.39�percent
versus 1.32�percent in the fourth quarter of 2010 and 1.28�percent in
the third quarter of 2011.
Wireless Margins Reflect Record Sales. Fourth-quarter wireless
margins reflect record-setting smartphone sales and customer upgrade
levels. This was offset in part by improved operating efficiencies and
further revenue gains from the company's growing base of high-quality
smartphone subscribers.
AT&T's fourth-quarter wireless operating income margin was 15.2�percent
versus 22.9�percent in the year-earlier quarter, and AT&T's wireless
EBITDA service margin was 28.7�percent, compared with 37.6�percent in
the fourth quarter of 2010. (EBITDA service margin is earnings before
interest, taxes, depreciation and amortization, divided by total service
revenues.) Fourth-quarter wireless operating expenses totaled
$14.2�billion, up 20.9 percent versus the year-earlier quarter, and
wireless operating income was $2.5 billion, down 27.0 percent year over
year.
WIRELINE OPERATIONAL HIGHLIGHTS
AT&T's fourth-quarter wireline results were highlighted by the second
consecutive quarter of sequential wireline business revenue growth, a 44
percent increase in U-verse revenues and solid cost management:
Sequential Wireline Business Revenue Growth Continues. Total
business revenues grew sequentially for the second consecutive quarter.
Revenues were $9.3�billion, down 1.4�percent versus the year-earlier
quarter but a slight increase over the third quarter of 2011. The
year-over-year decline reflects economic conditions and weakness in
voice and legacy data products somewhat offset by growth in IP data.
Business service revenues, which exclude CPE, declined 1.2�percent year
over year, compared to a year-over-year decline of 4.3 percent in the
year-ago quarter and were essentially flat sequentially, despite fewer
business days in the fourth quarter.
Robust Strategic Business Services Revenues. Revenues from
the new-generation capabilities that lead AT&T's most advanced business
solutions - including Ethernet, VPNs,
hosting, IP conferencing and application
services - grew 16.4�percent versus the year-earlier quarter,
continuing strong trends in this area. This now represents a nearly $6
billion annualized revenue stream.
VPN Growth Drives Business IP Revenues. Total business IP data
revenues grew 9.2�percent versus the year-earlier fourth quarter, led by
growth in VPN revenues. IP-based solutions allow customers to easily add
managed services such as network security, cloud services and IP
conferencing on top of their infrastructures. Total business data
revenues grew 1.3�percent year over year.
Wireline Consumer Revenues Continue Growth. Driven by strength in
IP data services, revenues from residential customers totaled
$5.3�billion, an increase of 0.5 percent versus the fourth quarter a
year ago. The fourth quarter marked the sixth consecutive quarter of
year-over-year growth.
208,000 U-verse Net Adds. AT&T U-verse TV added 208,000
subscribers to reach 3.8�million in service. As U-verse scales, its
margins improve, contributing to profitability. In the fourth quarter,
the AT&T U-verse High Speed Internet attach rate was 90�percent and
about half of new subscribers took AT&T U-verse Voice. About
three-fourths of AT&T U-verse TV subscribers have a triple- or quad-play
option from AT&T. ARPU for U-verse triple-play customers was almost
$170, up 2.5�percent year over year.
AT&T's U-verse deployment has reached its goal of passing 30�million
living units. Companywide penetration of eligible living units continues
to grow and was at 15.9�percent in the fourth quarter, and 25.0�percent
across areas marketed to for 36 months or more. AT&T's total video
subscribers, which combine the company's U-verse and bundled satellite
customers, reached 5.6�million at the end of the quarter, representing
23.9�percent of households served.
U-verse Broadband Continues Strong Growth. AT&T U-verse
High Speed Internet delivered a fourth-quarter net gain of 587,000
subscribers to reach a total of 5.2 million, helping offset losses from
DSL. Overall, AT&T lost 49,000 wireline broadband connections. About 74
percent of consumers have a broadband plan delivering speeds of 3 Mbps
or higher versus 65 percent in the year-ago quarter.
U-verse Drives Consumer Revenue Transformation. U-verse continues
to drive a transformation in wireline consumer, reflected by the fact
that consumer IP revenues now represent 53.2�percent of wireline
consumer revenues, up from 45.0�percent in the year-earlier quarter.
Increased AT&T U-verse penetration and a significant number of
subscribers on triple- or quad-play options drove 18.7�percent
year-over-year growth in IP revenues from residential customers
(broadband, U-verse TV and U-verse Voice) and 4.3 percent sequential
growth. U-verse revenues grew 43.7 percent compared with the year-ago
fourth quarter and were up 8.6 percent versus the third quarter of 2011.
Growth in Revenues Per Household Continues. Wireline
revenues per household served increased 7.0�percent versus the
year-earlier fourth quarter and were up 2.3�percent sequentially (average
revenues per household is total wireline consumer revenues divided by
the average monthly households in service), driven by AT&T U-verse
services. This marked AT&T's 16th consecutive quarter
with year-over-year growth in wireline consumer revenues per household
as U-verse scales and represents a larger portion of this category.
Consumer Connection Trends. In the fourth quarter, AT&T posted a
decline in total consumer revenue connections primarily due to expected
declines in traditional voice access lines, consistent with broader
industry trends and somewhat offset by increases in U-verse TV and VoIP
(Voice over Internet Protocol) connections. AT&T U-verse Voice
connections increased by 136,000 in the quarter and 598,000 over the
past four quarters. Total consumer revenue connections at the end of the
fourth quarter were 41.3�million, compared with 43.4�million at the end
of the fourth quarter of 2010 and 41.9�million at the end of the third
quarter of 2011.
Wireline Revenues Down Slightly. Total fourth-quarter wireline
revenues were $14.9�billion, down 1.4 percent versus the year-earlier
quarter and down slightly sequentially. Fourth-quarter wireline
operating expenses were $13.1�billion, down 0.2�percent versus the
fourth quarter of 2010 and down 0.1 percent sequentially. Wireline
operating income totaled $1.8�billion, down from $2.0�billion in the
fourth quarter of 2010 and down versus the third quarter of 2011. AT&T's
fourth-quarter wireline operating income margin was 11.9�percent,
compared to 13.0�percent in the year-earlier quarter and down slightly
from 12.1�percent in the third quarter of 2011. Improved consumer and
business IP data revenue trends and execution of cost initiatives helped
to partially offset declines in voice revenues.
AT&T products and services are provided or offered by subsidiaries
and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company and one
of the most honored companies in the world. Its subsidiaries and
affiliates - AT&T operating companies - are the providers of AT&T
services in the United States and around the world. With a powerful
array of network resources that includes the nation's fastest mobile
broadband network, AT&T is a leading provider of wireless, Wi-Fi, high
speed Internet, voice and cloud-based services. A leader in mobile
broadband and emerging 4G capabilities, AT&T also offers the best
wireless coverage worldwide of any U.S. carrier, offering the most
wireless phones that work in the most countries. It also offers advanced
TV services under the AT&T U-verse® and AT&T �DIRECTV
brands. The company's suite of IP-based business communications services
is one of the most advanced in the world. In domestic markets, AT&T
Advertising Solutions and AT&T Interactive are known for their
leadership in local search and advertising.
Additional information about AT&T Inc. and the products and services
provided by AT&T subsidiaries and affiliates is available at http://www.att.com.
This AT&T news release and other announcements are available at http://www.att.com/newsroom
and as part of an RSS feed at www.att.com/rss.
Or follow our news on Twitter at @ATT.
© 2012 AT&T Intellectual Property. All rights reserved. Mobile broadband
not available in all areas. AT&T, the AT&T logo and all other marks
contained herein are trademarks of AT&T Intellectual Property and/or
AT&T affiliated companies.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial
estimates and other forward-looking statements that are subject to risks
and uncertainties, and actual results may differ materially. A
discussion of factors that may affect future results is contained in
AT&T's filings with the Securities and Exchange Commission. AT&T
disclaims any obligation to update or revise statements contained in
this news release based on new information or otherwise. This news
release may contain certain non-GAAP financial measures. Reconciliations
between the non-GAAP financial measures and the GAAP financial measures
are available on the company's website at www.att.com/investor.relations.
Accompanying financial statements follow.
NOTE: EBITDA is defined as earnings before interest, taxes,
depreciation and amortization. EBITDA differs from Segment Operating
Income (loss), as calculated in accordance with U.S. generally accepted
accounting principles (GAAP), in that it excludes depreciation and
amortization. EBITDA does not give effect to cash used for debt service
requirements and thus does not reflect available funds for
distributions, reinvestment or other discretionary uses. EBITDA is not
presented as an alternative measure of operating results or cash flows
from operations, as determined in accordance with GAAP. Our calculation
of EBITDA, as presented, may differ from similarly titled measures
reported by other companies.
NOTE: Free cash flow is defined as cash from operations minus
capital expenditures. We believe this metric provides useful information
to our investors because management regularly reviews free cash flow as
an important indicator of how much cash is generated by normal business
operations, including capital expenditures, and makes decisions based on
it. Management also views it as a measure of cash available to pay debt
and return cash to shareowners.
NOTE: Adjusted Operating Income and Adjusted Operating Income
Margin are non-GAAP financial measures calculated by excluding from
operating revenues and operating expenses significant items that are
non-operational or non-recurring in nature. Management believes that
these measures provide relevant and useful information to investors and
other users of our financial data in evaluating the effectiveness of our
operations and underlying business trends. Adjusted Operating Income and
Adjusted Operating Income Margin should be considered in addition to,
but not as a substitute for, other measures of financial performance
reported in accordance with GAAP. Our calculation of Adjusted Operating
Income, as presented, may differ from similarly titled measures reported
by other companies.
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Financial Data
|
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�
|
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AT&T Inc.
|
|
Consolidated Statements of Income
|
|
Dollars in millions except per share amounts
|
|
Unaudited
|
�
|
Three Months Ended
|
�
|
Twelve Months Ended
|
|
�
|
�
|
12/31/2011
|
�
|
�
|
12/31/2010
|
�
|
% Chg
|
�
|
12/31/2011
|
�
|
12/31/2010
|
�
|
% Chg
|
|
Operating Revenues
|
|
|
|
�
|
|
|
�
|
|
|
|
|
�
|
|
|
�
|
|
|
Wireless service
|
|
$
|
14,347
|
|
|
$
|
13,799
|
|
|
4.0
|
%
|
|
$
|
56,726
|
|
|
$
|
53,510
|
|
|
6.0
|
%
|
|
Data
|
|
|
7,598
|
|
|
|
7,091
|
|
|
7.1
|
%
|
|
|
29,606
|
|
|
|
27,555
|
|
|
7.4
|
%
|
|
Voice
|
|
|
5,995
|
|
|
|
6,647
|
|
|
-9.8
|
%
|
|
|
25,131
|
|
|
|
28,332
|
|
|
-11.3
|
%
|
|
Directory
|
|
|
781
|
|
|
|
926
|
|
|
-15.7
|
%
|
|
|
3,293
|
|
|
|
3,935
|
|
|
-16.3
|
%
|
|
Other
|
�
|
�
|
3,782
|
�
|
�
|
�
|
2,898
|
�
|
�
|
30.5
|
%
|
|
�
|
11,967
|
�
|
�
|
�
|
10,948
|
�
|
�
|
9.3
|
%
|
|
Total Operating Revenues
|
�
|
�
|
32,503
|
�
|
�
|
�
|
31,361
|
�
|
�
|
3.6
|
%
|
|
�
|
126,723
|
�
|
�
|
�
|
124,280
|
�
|
�
|
2.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
�
|
|
Operating Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of services and sales (exclusive of depreciation and
amortization shown separately below)
|
|
|
17,474
|
|
|
|
13,939
|
|
|
25.4
|
%
|
|
|
57,374
|
|
|
|
52,379
|
|
|
9.5
|
%
|
|
Selling, general and administrative
|
|
|
16,536
|
|
|
|
10,342
|
|
|
59.5
|
%
|
|
|
38,844
|
|
|
|
32,864
|
|
|
18.2
|
%
|
|
Impairment of intangible assets
|
|
|
2,910
|
|
|
|
85
|
|
|
-
|
|
|
|
2,910
|
|
|
|
85
|
|
|
-
|
|
|
Depreciation and amortization
|
�
|
�
|
4,573
|
�
|
�
|
�
|
4,907
|
�
|
�
|
-6.8
|
%
|
|
�
|
18,377
|
�
|
�
|
�
|
19,379
|
�
|
�
|
-5.2
|
%
|
|
Total Operating Expenses
|
�
|
�
|
41,493
|
�
|
�
|
�
|
29,273
|
�
|
�
|
41.7
|
%
|
|
�
|
117,505
|
�
|
�
|
�
|
104,707
|
�
|
�
|
12.2
|
%
|
|
Operating Income (Loss)
|
�
|
�
|
(8,990
|
)
|
�
|
�
|
2,088
|
�
|
�
|
-
|
�
|
|
�
|
9,218
|
�
|
�
|
�
|
19,573
|
�
|
�
|
-52.9
|
%
|
|
Interest Expense
|
|
|
952
|
|
|
|
746
|
|
|
27.6
|
%
|
|
|
3,535
|
|
|
|
2,994
|
|
|
18.1
|
%
|
|
Equity in Net Income of Affiliates
|
|
|
135
|
|
|
|
133
|
|
|
1.5
|
%
|
|
|
784
|
|
|
|
762
|
|
|
2.9
|
%
|
|
Other Income (Expense) - Net
|
�
|
�
|
117
|
�
|
�
|
�
|
72
|
�
|
�
|
62.5
|
%
|
|
�
|
249
|
�
|
�
|
�
|
897
|
�
|
�
|
-72.2
|
%
|
|
Income (Loss) from Continuing Operations Before Income Taxes
|
|
|
(9,690
|
)
|
|
|
1,547
|
|
|
-
|
|
|
|
6,716
|
|
|
|
18,238
|
|
|
-63.2
|
%
|
|
Income Tax (Benefit) Expense
|
�
|
�
|
(3,062
|
)
|
�
|
�
|
388
|
�
|
�
|
-
|
�
|
|
�
|
2,532
|
�
|
�
|
�
|
(1,162
|
)
|
�
|
-
|
�
|
|
Income (Loss) from Continuing Operations
|
�
|
�
|
(6,628
|
)
|
�
|
�
|
1,159
|
�
|
�
|
-
|
�
|
|
�
|
4,184
|
�
|
�
|
�
|
19,400
|
�
|
�
|
-78.4
|
%
|
|
Income from Discontinued Operations, net of tax
|
�
|
�
|
-
|
�
|
�
|
�
|
2
|
�
|
�
|
-
|
�
|
|
�
|
-
|
�
|
�
|
�
|
779
|
�
|
�
|
-
|
�
|
|
Net Income (Loss)
|
�
|
�
|
(6,628
|
)
|
�
|
�
|
1,161
|
�
|
�
|
-
|
�
|
|
�
|
4,184
|
�
|
�
|
�
|
20,179
|
�
|
�
|
-79.3
|
%
|
|
Less: Net Income Attributable to Noncontrolling Interest
|
�
|
�
|
(50
|
)
|
�
|
�
|
(72
|
)
|
�
|
30.6
|
%
|
|
�
|
(240
|
)
|
�
|
�
|
(315
|
)
|
�
|
23.8
|
%
|
|
Net Income (Loss) Attributable to AT&T
|
�
|
$
|
(6,678
|
)
|
�
|
$
|
1,089
|
�
|
�
|
-
|
�
|
|
$
|
3,944
|
�
|
�
|
$
|
19,864
|
�
|
�
|
-80.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
�
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
�
|
|
Basic Earnings (Loss) Per Share from Continuing Operations
Attributable to AT&T
|
|
$
|
(1.12
|
)
|
|
$
|
0.18
|
|
|
-
|
|
|
$
|
0.66
|
|
|
$
|
3.23
|
|
|
-79.6
|
%
|
|
Basic Earnings Per Share from Discontinued Operations Attributable
to AT&T
|
�
|
�
|
-
|
�
|
�
|
�
|
-
|
�
|
|
-
|
|
|
�
|
-
|
�
|
�
|
�
|
0.13
|
�
|
|
-
|
|
|
Basic Earnings (Loss) Per Share Attributable to AT&T
|
|
$
|
(1.12
|
)
|
�
|
$
|
0.18
|
�
|
|
-
|
|
|
$
|
0.66
|
�
|
�
|
$
|
3.36
|
�
|
|
-80.4
|
%
|
|
Weighted Average Common Shares Outstanding (000,000)
|
|
|
5,933
|
|
|
|
5,915
|
|
|
0.3
|
%
|
|
|
5,928
|
|
|
|
5,913
|
|
|
0.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
�
|
|
Diluted Earnings (Loss) Per Share from Continuing Operations
Attributable to AT&T
|
|
$
|
(1.12
|
)
|
|
$
|
0.18
|
|
|
-
|
|
|
$
|
0.66
|
|
|
$
|
3.22
|
|
|
-79.5
|
%
|
|
Diluted Earnings Per Share from Discontinued Operations
Attributable to AT&T
|
�
|
�
|
-
|
�
|
�
|
�
|
-
|
�
|
|
-
|
|
|
�
|
-
|
�
|
�
|
�
|
0.13
|
�
|
|
-
|
|
|
Diluted Earnings (Loss) Per Share Attributable to AT&T
|
|
$
|
(1.12
|
)
|
�
|
$
|
0.18
|
�
|
|
-
|
|
|
$
|
0.66
|
�
|
�
|
$
|
3.35
|
�
|
|
-80.3
|
%
|
|
Weighted Average Common Shares Outstanding with Dilution (000,000)
|
|
|
5,955
|
|
|
|
5,941
|
|
|
0.2
|
%
|
|
|
5,950
|
|
|
|
5,938
|
|
|
0.2
|
%
|
|
