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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.