AT&T Shares Tumble 3.34% Amid Revenue Dip and Profit Pressure
1min read On December 16, shares of AT&T Inc. (T) declined by 3.34%, reaching the lowest intraday price since November 2024. The drop reflected ongoing challenges facing the telecommunications behemoth amidst a shifting market landscape.
AT&T reported a total revenue of $90.038 billion as of September 30, 2024, marking a 0.41% year-over-year decrease. Additionally, net income attributable to common shareholders fell sharply by 43.76%, landing at $6.868 billion. These figures underscore the financial pressures exerted on the company, necessitating strategic adjustments going forward.
In terms of shareholder returns, AT&T announced a quarterly dividend distribution on December 12, 2024, of $0.2775 per share. The ex-dividend date is January 10, 2025, with payment scheduled for February 3, 2025. This move continues AT&T's tradition of offering substantial dividends, though the reduced net income might pose questions about future payout sustainability.
Furthermore, AT&T is poised to release its fiscal year 2024 annual report on January 22, 2025. This forthcoming disclosure will provide the market with a comprehensive overview of the company's performance and strategic initiatives undertaken over the past fiscal year.
AT&T, incorporated in Delaware in 1983, stands as a dominant force in telecoms both in the United States and globally. The company delivers a wide range of services and products tailored to diverse markets, encompassing wireless communication, local exchange services, and long-distance services, among others. Its offerings extend to video services, telecommunications equipment, managed networking, wholesale services, and more, highlighting AT&T's expansive footprint in the telecommunications industry.