Shares in AT&T Inc (NYSE:T) jumped 6% after it dialled in larger gains in customers in the past quarter than expected and said it has entered 2025 with "strong momentum".
Net new phone customer numbers for the fourth quarter reached 482,000, beating the forecasted additions of 443,000 from Wall Street analysts.
AT&T reported positive retention data too, with 0.85% postpaid phone churn, which the company said was "industry leading".
Revenues reached $32.3 billion for Q4, compared to $32 billion a year earlier, as mobility service revenues rose 3.3% to $16.6 billion.
Diluted earings per share came in at $0.56 and adjusted EPS at $0.54, which meant a full year adjusted EPS total of $2.26, which was aboe the top end of its previous guidance of a $2.15-$2.25 range.
“The strong results this quarter are the result of a four-plus-year period of hard work and consistent execution by our teams, which has positioned us well for a new era of growth,” said CEO John Stankey.
“We ended 2024 with strong momentum. Customers and shareholders can look forward to receiving even more value in 2025 as we expand the country's largest fiber network, modernize our wireless network, grow our business and begin share repurchases in the second half of the year.”
For 2025, AT&T expects service revenue growth in a low-single-digit range and adjusted EPS, excluding DIRECTV, of $1.97 to $2.07.
The sale of its 70% stake in DIRECTV to TPG is expected to close in mid-year.