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AT&T 4th-quarter loss weighed down by charges, but smartphone sales drive up revenue
NEW YORK (AP) ' AT&T is reporting a fourth-quarter loss due to some hefty charges, but strong smartphone sales led to the company's best-ever quarter in activations.
Smartphone activations rose nearly 60 percent year over year, including 7.6 million iPhone activations.
The net loss amounts to $6.68 billion, or $1.12 per share, compared with year-earlier net income of $1.09 billion, or 18 cents per share. Adjusted profit was 42 cents per share.
Revenue rose 3.6 percent to $32.5 billion.
Analysts expected earnings per share of 43 cents on revenue of $31.99 billion, on average.
The Texas company says it plans to resume share repurchases this year.
In premarket trading Thursday, shares of AT&T Inc. fell 51 cents to $29.70.