AT&T (T) FY2017 results: revenue $160.5 billion, down 2.0% on the year
AT&T Inc. (T) reported revenue of $160.5 billion for fiscal 2017, the year ended 31 December 2017, down 2.0% on the year before. Net income was $29.4 billion, up 127.0%, and diluted earnings per share $4.76. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2018.
Revenue
$160.5 billion
-2.0% on the year
FY2010FY2017
Operating margin
12.4%
14.4% a year earlier
FY2010FY2017
Net income
$29.4 billion
+127.0% on the year
FY2010FY2017
Diluted EPS
$4.76
+126.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
160,546
163,786
146,801
-2.0%
Selling, general and administrative
35,465
36,845
35,706
-3.7%
Operating income
19,970
23,543
20,362
-15.2%
Operating margin
12.4%
14.4%
13.9%
Interest expense
6,300
4,910
4,120
+28.3%
Pre-tax income
15,139
19,812
20,692
-23.6%
Income tax
-14,708
6,479
7,005
Effective tax rate
-97.2%
32.7%
33.9%
Net income
29,450
12,976
13,345
+127.0%
Net margin
18.3%
7.9%
9.1%
Diluted EPS
$4.76
$2.10
$2.37
+126.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
38,010
38,442
35,174
-1.1%
Capital expenditure
20,647
21,516
19,218
-4.0%
Free cash flow
17,363
16,926
15,956
+2.6%
Free cash flow margin
10.8%
10.3%
10.9%
Cash from investing
-18,943
-23,318
-48,424
Cash from financing
25,930
-14,462
9,782
Depreciation and amortisation
24,387
25,847
22,016
-5.6%
Share-based compensation
480
653
451
-26.5%
Buybacks
463
512
269
-9.6%
Dividends paid
12,038
11,797
10,200
+2.0%
Dividend per share
$1.97
$1.93
$1.89
+2.1%
Diluted shares, weighted
6,183m
6,189m
5,646m
-0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
142,007
124,110
123,640
+14.4%
Debt
164,346
123,513
126,151
+33.1%
Other liabilities
137,744
156,198
152,881
-11.8%
Total liabilities and equity
444,097
403,821
402,672
+10.0%
Fixed assets
125,222
124,899
124,450
+0.3%
Goodwill
105,449
105,207
104,568
+0.2%
Securities held for sale or to maturity
581
n/a
n/a
Cash and equivalents
50,498
5,788
5,121
+772.5%
Receivables
16,522
16,794
16,532
-1.6%
Inventory
2,225
2,039
4,033
+9.1%
Other assets
143,600
149,094
147,968
-3.7%
Total assets
444,097
403,821
402,672
+10.0%
10-K for the year ended 31 December 2017, filed 20 February 2018: the filing.