AT&T Inc (NYSE:T, ETR:SOBA) is expected to report steady revenues but a drop in profits for the fourth quarter.
The telecommunications company is set to hand down its fourth quarter earnings on Wednesday, January 24 before the stock market opens.
It is expected to report revenue of $31.46 billion, up from $31.34 billion in the year-ago quarter.
Its earnings per share, however, are expected to drop 9.8% from $0.61 in the fourth quarter of 2022 to $0.55.
This comes after AT&T reported better-than-expected third quarter earnings and raised its free cash flow and EBITDA (earnings before interest, taxes, depreciation, and amortization) guidance for the full year.
Analysts expect AT&T to report EPS of $2.43 on revenue of $121.9 billion for the full year.
AT&T shares traded flat at US$16.45 in the early afternoon on Wednesday.