AT&T 1-Year Turnaround… Not Enough to back the CEO
AT&T 1-Year Turnaround… Not Enough to back the CEO (SeekingAlpha)
Following closely in Daimler AG’s footsteps, AT&T’s (NYSE: T) Q413 figures also were buoyed by a one-time gain — attributed to the company’s pension plan — which boosted earnings per share by 21 percent. After the market’s close on Tuesday, AT&T reported Q4 net income of $6.9 billion ($1.31 per share), as opposed to Q4 2012’s loss of $3.9 billion (68 cents per share). Despite this seemingly giant step in the right direction, AT&T management is not entirely convinced that it has found the right recipe for long-term success, as the board recently extended CEO Randall L. Stephenson’s contract three years — which many in the industry saw as a snub. For investors, though, Stephenson’s doing a whale of a job as AT&T has paid out more than $9.8 billion in cash dividends and repurchased $15.5 in common shares.