Despite the panic that followed AT&T CEO Randall Stephenson's recent comments about some possible softness in consumer markets, AT&T's fourth quarter earnings report showed a company in robust health. The report met analyst expectations for earnings-per-share of 71 cents. As with most major wireline/wireless telcos, wireless continues to be AT&T's strongest growth engine, as the carrier added 2.7 million wireless customers during the quarter.
Wireless revenue grew 16.3% to $11.4 billion, and overall revenue hit $30.35 billion for the quarter, growth of about 91% over the same quarter in 2006, though it should be noted the BellSouth acquisition was not completed until December 2006. AT&T also added 105,000 U-Verse customers and now has a total U-Verse subscriber base of 231,000.
- Stephenson's comments about market softness came earlier this month