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January 27, 2025 Shares of AT&T (NYSE:T) spikes more than 6% to $24.09, marking a solid earnings report of its fourth quarter 2024 results. AT&T reports operating revenues gain slightly 0.9% over the past year to $32.30 billion beating consensus expectation of $32.40 billion only. Adjusted earnings of $0.54 per share also surpasses the expectation EPS of $0.50.
AT&T is adding new customers across different services. In Q4 2024 AT&T gained 482,000 new postpaid phone customers, while in Q4 2023 they had 526,000 additional postpaid customers. This type of customers is tiedwith contracts making them more reliable to generate revenue for AT&T.
Even though the number of customers registered for postpaid phone is lower, but the ARPU (average revenue per user) for this type of customer rose to $56.72, slightly higher than the ARPU in the same quarter previous year of $56.20.
It also added 307,000 new fiber customers, they are the type of customers that demand high-speed internet service and belong to consumer wireline segment. As many as 158,000 new customers also agreed to subscribe for AT&T's Internet Air offering during the quarter.
Adjusted EBITDA has increased to $10.8 billion, $200 million higher than Q4 2023. In the end, AT&T made $4.4 billion in net income, significantly higher than $2.6 billion in the same quarter in previous year.
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This article first appeared on GuruFocus.