AT&T (T) shares rose in premarket trading Monday after the telecommunications giant reported better-than-expected fourth-quarter results.
The company reported net income that jumped 70% year-over-year to $4.41 billion, or 56 cents per share, on revenue of $32.3 billion. Analysts polled by Visible Alpha expected profit of $3.38 billion, or 46 cents per share, on roughly flat revenue of $32.07 billion.
“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,” CEO John Stankey said.
The company also said it expects low-single-digit 2025 service revenue growth, along with adjusted EBITDA growth of at least 3%.
AT&T shares rose nearly 2% immediately following Monday’s report. They had gained more than 30% over the last 12 months through Friday’s close.
AT&T’s rival Verizon Communications (VZ) beat Q4 estimates on Friday, and T-Mobile (TMUS) is slated to report results on Wednesday morning.