AT&T Reports Inline Results, Adds 2.7 Million Wireless Subscribers but Sales Slip 1% (T)

1/28/2010-AT&T (NYSE:T) reported Q4 EPS of $0.51, inline with consensus estimates.

Sales in the quarter slipped 0.7% year-over-year to $30.8 billion, inline with consensus estimates.

AT&T said it added 2.7 million net wireless subscribers in the quarter, the second highest quarterly net gain in the company's history.

Regarding full-year 2010, AT&T said it "expects to deliver stable consolidated revenues and stable-to-improved consolidated operating income margins, leading to stable-to-improved earnings per share."

Meanwhile, the company said total 2010 capital expenditures are expected to be in the $18 billion to $19 billion range.

"Our significant investments in IP infrastructure - both mobile and fixed - provide the next-generation growth platforms for us," said Randall Stephenson, AT&T chairman and chief executive officer. "Our leadership in mobile broadband will continue to set us apart as we roll out even faster 3G speeds this year and begin deploying 4G capabilities in 2011. Our IP-based U-verse service continues to scale nicely, improving our consumer revenue profile. And we continue to see solid growth from mobile broadband and IP data services in the business segment."