US communications firm AT&T sees revenue, subscriber gain in Q4

By Ovunc Kutlu

ISTANBUL (AA) - AT&T saw revenue and subscriber gain in the fourth quarter, according to financial results released Wednesday.

Total operating revenue came in at more than $31.3 billion -- up less than 1% from $31.1 billion during the same period last year.

Revenue for domestic wireless service rose 5.2% year-on-year, increased 7.2% for consumer broadband and jumped more than 31% for fiber.

The US-based multinational telecommunications firm said it had 280,000 net subscriber additions for fiber, which marked 12 straight quarters with more than 200,000 net additions. It added 656,000 postpaid phone subscribers.

The firm, however, posted a net loss of $23.1 billion.

"Operating expenses increased primarily due to non-cash goodwill impairments and asset abandonments and restructuring charges in the current quarter totaling $26.8 billion," it said. "Asset abandonments of $1.4 billion were associated with certain wireline conduits no longer required to support our copper and fiber networks.”

The world's biggest telecommunications company by revenue saw its stock price gain 6.2% at 1.20 p.m. EDT on the New York Stock Exchange.