AT&T Numbers

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At the bell, AT&T reported consolidated 4Q revenues of $33.2bln, up 1.8% from a year ago. The telco expects continued consolidated revenue growth in the 2-3% range for ’14. Total U-verse revenues grew 27.9% YOY and were up 7% versus the 3Q13, with AT&T citing the lowest-ever churn in U-verse’s history. The video service added 194K subs in the Q, while U-verse high-speed Internet recorded a net gain of 630K subs. Total U-verse high speed Internet subscribers now represent 63% of all wireline broadband subscribers compared with 47% in the year-earlier quarter. Some stats on U-verse users: more than 90% of the video users also signed up for U-verse HSD; about 2/3 of TV subs take 3 or 4 services from AT&T; and U-verse TV penetration of customer locations was at 21% at the end of 4Q. AT&T’s wireline operating income margin was 9.9%, down from 12% in the year-earlier quarter.

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