AT&T Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018; Reports Impairment for the Fourth Quarter of 2017
For the full year, the company reported total operating Revenue was $160,546 million against $163,786 million a year ago. Operating income was $20,949 million against $24,347 million a year ago. Income before income taxes was $15,139 million against $19,812 million a year ago. Net income was $29,847 million against $13,333 million a year ago. Net income attributable to AT&T reflects the impact of the new tax law and was $29.5 billion compared to $13.0 billion; and earnings per diluted share were $4.76, compared with $2.10. Diluted earnings per share attributable to company were $4.76 million against $2.1 million a year ago. Net cash provided by operating activities was $39,151 million against $39,344 million a year ago. Purchase of property and equipment was $20,647 million against $21,516 million a year ago. Free cash flow was $17,601 million against $16,936 million a year ago.
For the year 2018, the company expects capital expenditures approaching $25 billion; $23 billion net of expected FirstNet reimbursements and inclusive of $1 billion incremental tax reform investment.
For the fourth quarter of 2017, the company reported impairments of $33 million compared to $29 million a year ago.