AT&T stock edged higher after the telecom giant reported fourth-quarter earnings and revenue that topped estimates while its 2022 revenue outlook met expectations.


For the quarter ending Dec. 31, AT&T (T) earned 78 cents per share on an adjusted basis, up nearly 4% from a year earlier. Revenue fell 10% to $41 billion including the divestiture of satellite TV firm DirecTV, but topped views.

A year earlier, AT&T earnings were 75 cents a share on revenue of $45.7 billion. Analysts estimated earnings of 76 cents a share on revenue of $40.3 billion.

For fiscal 2022, AT&T said it expects per-share earnings in a range of $3.10 to $3.15. The telecom firm forecast revenue growth in the low single digits. Analysts predicted 2022 earnings of $3.16 a share on revenue of $156.3 billion, up from $153.2 billion.

AT&T stock climbed 0.2% to 26.54 before the market open on the stock market today. T stock has gained 7.6% in 2022 amid a market correction.

AT&T Stock: Discovery Deal To Close

Also, AT&T has agreed to merge its WarnerMedia business with Discovery (DISCA). The deal could close in the second quarter of 2022.

It’s unclear whether AT&T will keep shares in the new company, to be called “Warner Brothers Discovery,” or distribute its stake in the merged media firm to AT&T shareholders.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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