5 Stocks Making Big Moves on Quarterly Results

3. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 66

Shares of AT&T Inc. (NYSE:T) slightly moved down in the morning trading session on Wednesday, January 26, 2022, even after delivering its fourth-quarter financial results above expectations.

AT&T Inc. (NYSE:T) earned 78 cents per share on an adjusted basis, up from 75 cents per share in the year-ago quarter and above the consensus forecast of 76 cents per share. Revenue for the quarter decreased to $41 billion from $45.7 billion in the comparable period of 2020. Analysts were looking for revenue of $40.3 billion.

Among other important updates, AT&T Inc. (NYSE:T) reported 1.3 million postpaid net additions for the quarter. Moreover, its global HBO Max and HBO subscribers stood at 73.8 million at the end of the quarter.

AT&T Inc. (NYSE:T) also issued its profit outlook for 2022. It expects adjusted earnings in the range of $3.10 – $3.15 per share, slightly below analysts’ average estimate of $3.16 per share.

Speaking on the results, CEO of AT&T Inc. (NYSE:T), John Stankey, said in a statement:

“We ended 2021 the way we started it – by growing our customer relationships, running our operations more effectively and efficiently, and sharpening our focus. Our momentum is strong and we’re confident there is more opportunity to continue to grow our customer base and drive costs from the business.”