DALLAS, January 24, 2024 — AT&T Inc. (NYSE: T) delivered strong fourth-quarter and full-year results highlighted by profitable 5G and AT&T Fiber subscriber gains. As a result, the company posted strong operating income and cash from operations, and surpassed its full-year guidance for adjusted EBITDA, mobility service and broadband revenue growth as well as its previously increased guidance for free cash flow.
Solid fourth-quarter results and strong free cash flow close out a strong year
Fourth quarter cash from operating activities of $11.4 billion, up $1.0 billion or 10.0% year over year; Full-year cash from operating activities of $38.3 billion, up $2.5 billion versus the prior year.
Fourth quarter free cash flow* of $6.4 billion; Full-year free cash flow* of $16.8 billion, exceeded previously increased guidance, and up $2.6 billion versus the prior year.
Fourth quarter revenues of $32.0 billion, up 2.2% year over year.
Fourth quarter operating income of $5.3 billion, with adjusted operating income* of $5.8 billion; Full-year operating income of $23.5 billion, with adjusted operating income* of $24.7 billion, up 5.0% year over year.
“We accomplished exactly what we said we would in 2023, delivering sustainable growth and consistent business performance, resulting in full-year free cash flow of $16.8 billion, ahead of our raised guidance. As we advance our lead in converged connectivity, we will continue to scale our best-in-class 5G and fiber networks to meet customers’ growing demand for seamless, ubiquitous broadband, and drive durable growth for shareholders,” said John Stankey, AT&T CEO.