Solid EPS growth, strong wireless revenue gains and record free cash flow with increase of $2 billion in full-year free cash flow guidance.
AT&T reported third-quarter results highlighted by strong EPS growth, record free cash flow, $3.8 billion in share buybacks and, when you exclude the divested Advertising Solutions business, strong consolidated revenue growth led by wireless, U-verse and strategic business services.
“We had another impressive quarter with strong earnings growth, record cash flows and solid returns to shareholders through dividends and share buybacks”
said Randall Stephenson, AT&T chairman and chief executive officer.
“In wireless, we had another excellent smartphone quarter, penetration of usage-based mobile data plans continues to climb, and our 4G LTE network build is ahead of schedule.
And, in wireline, our IP network continues to deliver strong gains in U-verse high speed Internet connections, which helped drive an almost 10 percent increase in broadband data ARPU.
Our strong performance allows us to increase our free cash flow guidance to $18 billion or higher this year, exceeding our previous outlook by $2 billion.”
$0.63 diluted EPS compared to $0.61 diluted EPS in the third quarter of 2011; $0.62 compared to $0.59 when adjusted for sale of Advertising Solutions, up more than 5 percent year over year.
EPS up 6 percent year to date; up more than 8 percent year to date when adjusted for Advertising Solutions.
$3.8 billion in stock buybacks in the third quarter; 101 million shares repurchased.
Record cash from operations of $11.5 billion and record free cash flow of $6.5 billion in third quarter; full-year free cash flow guidance increases $2 billion to $18 billion or higher.
Strong wireless performance; smartphones 81% of postpaid sales.
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