AT & T (T.N.) on Wednesday reported quarterly earnings beat Wall Street analysts' expectations due to tax cuts and increased wireless subscriber base.

In the fourth quarter ended December 31, the company's net profit was 19 billion U.S. dollars, up from 2.4 billion U.S. dollars in the same period of last year. Its earnings per share was 3.08 U.S. dollars, also higher than the same period of last year's 0.39 U.S. dollars.

Excluding those special items, which included a $ .13 impact from the tax cuts Act signed by President Trump late last year, the U.S. second-largest wireless carrier had a $ 0.78 per share. According to Thomson Reuters I / B / E / S, analysts forecast an average of $ 0.65 per share.

Shares of the company rose 2.5% to $ 38.40 in after-hours trading.

The company's fourth quarter revenue of 41.7 billion US dollars, more than analysts forecast of 41.2 billion US dollars, compared with the same period last year's revenue of 41.8 billion US dollars.

 
As of 2018, AT & T said it expects earnings per share to be around $ 3.50, including free-cash flow of about $ 21 billion and capital expenditures of $ 25 billion, including tax breaks and new accounting rules.

<>AT & T Q4 profits beat expected stock prices rose more than 2%
<>AT & T Q4 profits beat expected stock prices rose more than 2%

 

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