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Share Name | Share Symbol | Market | Type |
---|---|---|---|
SentinelOne Inc | NYSE:S | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.03 | -0.12% | 24.09 | 24.70 | 23.52 | 24.51 | 3,082,781 | 23:13:59 |
By Chelsey Dulaney
AT&T Inc.'s December-quarter results narrowly topped expectations as the company secured more lucrative long-term wireless contracts.
Shares gained about 2% in after-hours trading.
AT&T is facing greater competition from smaller rivals T-Mobile U.S. Inc. and Sprint Corp., as well as challenges tied to consolidation in the telecommunications and media industries.
The company has responded by moving much of its customer base to cheaper plans. AT&T has also been aggressively pushing the sale of smartphones at full price, often lowering the monthly service fee for customers not in a contract. In October, AT&T indicated that it was seeing fewer-than-expected customers signing up for its no-contract Next plans that require consumers to pay full price for their smartphones.
Meanwhile, the company has been beefing up its balance sheet to fund its bids for U.S. wireless spectrum, moving forward with its $49 billion deal for satellite-television company DirecTV and expanding into Mexico. On Monday, AT&T announced plans to buy Nextel Mexico for $1.88 billion.
In the most recent quarter, the company said it added 854,000 of the most lucrative long-term wireless contracts, a 51% increase from a year earlier. AT&T said it added 148,000 net postpaid smartphones and 969,000 postpaid tablets in the quarter.
Overall, AT&T reported a loss of $3.98 billion, or 77 cents a share, compared with a profit $6.91 billion, or $1.31 cents a share, a year earlier.
The company warned earlier this month that it would it would take a $7.9 billion charge for pension-related costs in the quarter.
Excluding that cost and other items, earnings grew to 55 cents a share.
Revenue grew 3.8% to $34.44 billion.
Analysts polled by Thomson Reuters expected a per-share profit of 54 cents and revenue of $34.26 billion.
AT&T said the rate at which wireless customers left its network, called churn, was 1.22% up from 1.11% a year earlier.
Wireless revenue grew 7.7%, while wireless data billings grew 18% from a year earlier.
Operating income margin, meanwhile, fell to 16.3% from 21.4% a year earlier as AT&T saw strong seasonal adds and upgrades.
For the 2015 year, AT&T forecast per-share earnings growth in the low single-digit range. Analysts polled by Thomson Reuters had recently forecast 2% growth in per-share earnings.
Last week, peer Verizon Communications Inc. posted a heavy loss in its fourth quarter on pension and severance costs, though strength in tablets were again a driver of growth for the company.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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