AT&T (T) FY2014 results: revenue $132.4 billion, up 2.9% on the year
AT&T Inc. (T) reported revenue of $132.4 billion for fiscal 2014, the year ended 31 December 2014, up 2.9% on the year before. Net income was $6.4 billion, down 65.0%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$132.4 billion
+2.9% on the year
FY2007FY2014
Operating margin
9.2%
23.9% a year earlier
FY2007FY2014
Net income
$6.4 billion
-65.0% on the year
FY2007FY2014
Diluted EPS
$1.24
-63.7% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
132,447
128,752
127,434
+2.9%
Cost of revenue
60,611
51,464
55,215
+17.8%
Gross profit
71,836
77,288
72,219
-7.1%
Gross margin
54.2%
60.0%
56.7%
Selling, general and administrative
39,697
28,414
41,079
+39.7%
Operating income
12,212
30,752
12,997
-60.3%
Operating margin
9.2%
23.9%
10.2%
Interest expense
3,613
3,940
3,444
-8.3%
Pre-tax income
10,355
28,050
10,439
-63.1%
Income tax
3,619
9,328
2,900
-61.2%
Effective tax rate
34.9%
33.3%
27.8%
Net income
6,442
18,418
7,264
-65.0%
Net margin
4.9%
14.3%
5.7%
Diluted EPS
$1.24
$3.42
$1.25
-63.7%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
31,338
34,796
39,176
-9.9%
Capital expenditure
21,199
20,944
19,465
+1.2%
Free cash flow
10,139
13,852
19,711
-26.8%
Free cash flow margin
7.7%
10.8%
15.5%
Cash from investing
-18,337
-23,124
-19,680
Cash from financing
-7,737
-13,201
-17,673
Depreciation and amortisation
18,273
18,395
18,143
-0.7%
Share-based compensation
318
458
511
-30.6%
Buybacks
1,617
13,028
12,752
-87.6%
Dividends paid
9,552
9,696
10,241
-1.5%
Dividend per share
$1.85
$1.81
$1.77
+2.2%
Diluted shares, weighted
5,221m
5,385m
5,821m
-3.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
90,270
94,610
95,653
-4.6%
Debt
81,834
74,788
69,844
+9.4%
Other liabilities
124,730
108,389
106,818
+15.1%
Total liabilities and equity
296,834
277,787
272,315
+6.9%
Fixed assets
112,898
110,968
109,767
+1.7%
Goodwill
69,692
69,273
69,773
+0.6%
Investments
1,890
n/a
n/a
Cash and equivalents
8,603
3,339
4,868
+157.7%
Receivables
14,527
12,918
12,657
+12.5%
Inventory
1,933
1,148
1,036
+68.4%
Other assets
87,291
80,141
74,214
+8.9%
Total assets
296,834
277,787
272,315
+6.9%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.