AT&T (T) FY2013 results: revenue $128.8 billion, up 1.0% on the year
AT&T Inc. (T) reported revenue of $128.8 billion for fiscal 2013, the year ended 31 December 2013, up 1.0% on the year before. Net income was $18.4 billion, up 153.6%, and diluted earnings per share $3.42. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$128.8 billion
+1.0% on the year
FY2007FY2013
Operating margin
23.9%
10.2% a year earlier
FY2007FY2013
Net income
$18.4 billion
+153.6% on the year
FY2007FY2013
Diluted EPS
$3.42
+173.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
128,752
127,434
126,723
+1.0%
Cost of revenue
51,464
55,215
54,904
-6.8%
Gross profit
77,288
72,219
71,819
+7.0%
Gross margin
60.0%
56.7%
56.7%
Selling, general and administrative
28,414
41,079
41,314
-30.8%
Operating income
30,752
12,997
9,218
+136.6%
Operating margin
23.9%
10.2%
7.3%
Interest expense
3,940
3,444
3,535
+14.4%
Pre-tax income
28,050
10,439
6,716
+168.7%
Income tax
9,328
2,900
2,532
+221.7%
Effective tax rate
33.3%
27.8%
37.7%
Net income
18,418
7,264
3,944
+153.6%
Net margin
14.3%
5.7%
3.1%
Diluted EPS
$3.42
$1.25
$0.66
+173.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
34,796
39,176
34,743
-11.2%
Capital expenditure
20,944
19,465
20,110
+7.6%
Free cash flow
13,852
19,711
14,633
-29.7%
Free cash flow margin
10.8%
15.5%
11.5%
Cash from investing
-23,124
-19,680
-21,250
Cash from financing
-13,201
-17,673
-11,650
Depreciation and amortisation
18,395
18,143
18,377
+1.4%
Share-based compensation
458
511
489
-10.4%
Buybacks
13,028
12,752
0.0
+2.2%
Dividends paid
9,696
10,241
10,172
-5.3%
Dividend per share
$1.81
$1.77
$1.73
+2.3%
Diluted shares, weighted
5,385m
5,821m
5,950m
-7.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
94,610
95,653
105,797
-1.1%
Debt
74,788
69,844
64,753
+7.1%
Other liabilities
108,389
106,818
99,794
+1.5%
Total liabilities and equity
277,787
272,315
270,344
+2.0%
Fixed assets
110,968
109,767
107,087
+1.1%
Goodwill
69,273
69,773
70,842
-0.7%
Cash and equivalents
3,339
4,868
3,045
-31.4%
Receivables
12,918
12,657
13,231
+2.1%
Inventory
1,148
1,036
1,188
+10.8%
Other assets
80,141
74,214
74,951
+8.0%
Total assets
277,787
272,315
270,344
+2.0%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.