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.