AT&T Inc. (NYSE:T) Shares Tumbles after Reporting Mixed 4Q Results

AT&T Inc. (NYSE:T) went down by 60 cents or 2.09% to $28.13 after the company posted 60% decline in its fourth fiscal profit year over year and reported mixed 4Q10 results, beating consensus EPS on strong wireline, but weak wireless trends. Shares of the company opened at $28.08 and touched the intraday range of $27.81-$28.25. The stock traded with higher volume of 58.17 million shares compared to the daily average volume of 26.44 million shares. The market capital of the stock stands at $166.25 billion with P/E of 7.92. The stock has 52 week range of $23.78-$30.10. The Company reported that its fourth fiscal quarter consolidated revenue went up by 2.1% to $31.4 billion, jumping 2.1% or $653 million year over year, making it the fourth's consecutive quarter with an increase in revenue. Fourth fiscal quarter net income fall 60% year over year to $1.1 billion, or 18 cents a share from $2.7 million or 46 cents a share hurt by a slew of one-time items, including a 26 cent charge from a pension accounting change, a 9 cent charge for severance costs and a 2 cent charge for asset impairments. Adjusted EPS arrived at 55 cents, up 7.8% year-over-year, exceeding Wall Street’s consensus by 2%. Wireless EBITDA margins were flat sequentially due to continued high levels of integrated device sales (and upgrades) and were 310 basis points lower than the year-ago result. Wireless EBITDA margins came in at 37.6%. Wireline revenue of $15.11 billion, EBITDA of $5.06 billion, EBITDA margin of 33.5% increased from 32% in 4Q09 & Consumer revenue of $5.29 billion increased 0.7%; up from 0.2% growth in 3Q10 has been recorded for the latest quarter. Consumer broadband net adds were 228k, U-verse video net adds were 246k & Business revenue declined 4.5%, improved from a 3.9% decline in 3Q revenue of $9.43 billion. The Company announced that for fiscal 2011, it expects earnings per share (EPS) growth in the mid-single digits or better. The Company reported EPS of $2.30 in fiscal 2010. According to Reuters Estimates, analysts are expecting the Company to report EPS of $2.50 for fiscal 2011. AT&T Inc. (AT&T) provides telecommunications services in the United States and the world. It offers services and products to consumers in the United States and services and products to businesses and other providers of telecommunications services worldwide. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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