AT&T Is Still a No-Brainer Value Stock to Buy in 2024
Shares of telecom giant AT (NYSE: T) headed lower last Wednesday following a fourth-quarter report that was a bit less positive than investors may have been expecting. Overall, the company's results and guidance were solid. There were, however, a few issues that may have contributed to the post-earnings decline.
When it came to revenue and free cash flow, AT knocked it out of the park. Revenue was up 2.2% year over year to $32 billion, ahead of the average analyst estimate by more than $500 million. Full-year free cash flow jumped to $16.8 billion, beating AT's updated guidance of $16.5 billion. The company started 2023 calling for free cash flow of AT least $16 billion.
AT gained 526,000 net postpaid phone subscribers in the fourth quarter. While that tally was lower compared to the fourth quarter of 2022, the company gained more subscribers than in any other quarter of 2023. Postpaid phone churn remained remarkably low AT 0.84%, and postpaid phone average revenue per user increased slightly.
Source Fool.com
