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AT&T (NYSE:T) shares rose 5.30% to $23.92 as of 10:36:27 ET after the company reported strong Q4 results, exceeding Wall Street expectations.
The company posted adjusted earnings of $0.54 per share, beating the $0.50 consensus estimate. Revenue increased 0.9% to $32.3 billion, surpassing forecasts of $32 billion. AT&T added 482,000 net postpaid wireless subscribers, exceeding analyst estimates of 424,550.
The company's fiber business also posted a record Q4, with 307,000 new customers, up from 226,000 in Q3. AT&T's success was fueled by holiday promotions, trade-in offers for iPhones, and its bundling strategy, which combines fiber internet with wireless services. These factors helped drive higher customer retention and acquisition during the quarter. It's important to know that T stock is up over 25% in the past six months, beating the S&P 500's returns of just 11% over the same period. YTD, the stock is up more than 5%, ahead of the S&P 500's 2.3%.
This article first appeared on GuruFocus.