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AT&T (T) Q4 FY2021 earnings: revenue $31.1 billion, down 31.9% on the year

AT&T Inc. (T) reported revenue of $31.1 billion for Q4 FY2021, the quarter ended 31 December 2021, down 31.9% on the same quarter a year earlier. Net income was $5.0 billion, and diluted earnings per share $0.69. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2023.

Revenue
$31.1 billion
-31.9% on the year · -0.7% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
15.7%
-23.5% a year earlier
Q1 FY2020Q4 FY2021
Net income
$5.0 billion
-14.8% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$0.69
-15.9% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue31,09531,32645,691-0.7%-31.9%
Cost of revenue19,795n/an/a
Gross profit11,300n/an/a
Gross margin36.3%n/an/a
Selling, general and administrative9,994n/an/a
Operating income4,8946,237-10,745-21.5%
Operating margin15.7%19.9%-23.5%
Interest expense1,663n/an/a
Pre-tax income6,446n/an/a
Income tax1,056n/an/a
Effective tax rate16.4%n/an/a
Net income5,0435,918-13,883-14.8%
Net margin16.2%n/an/a
Diluted EPS$0.69$0.82-$1.94-15.9%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow11,254n/an/a
Capital expenditure3,831n/an/a
Free cash flow7,423n/an/a
Free cash flow margin23.9%n/an/a
Cash from investing-4,756n/an/a
Cash from financing-6,587n/an/a
Depreciation and amortisation5,6734,4576,979+27.3%-18.7%
Buybacks11.0n/an/a
Dividends paid3,749n/an/a
Dividend per share$0.52n/an/a
Diluted shares, weightedn/a7,202m7,183m
Shares outstanding at period end7,130m7,141m7,132m-0.2%-0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity183,855181,303179,240+1.4%+2.6%
Debt175,631179,161157,245-2.0%+11.7%
Operating lease liabilities21,261n/an/a
Finance lease liabilities1,484n/an/a
Other liabilities169,391n/an/a
Total liabilities and equity551,622n/an/a
Goodwill133,223n/an/a
Securities held for sale or to maturity1,384n/an/a
Cash and equivalents21,16921,2709,740-0.5%+117.3%
Receivables17,571n/an/a
Other assets378,275n/an/a
Total assets551,622n/an/a

Questions

What was AT&T's revenue in Q4 FY2021?

AT&T (T) reported revenue of $31.1 billion for Q4 FY2021, the quarter ended 31 December 2021, down 31.9% on the same quarter a year earlier.

How much did AT&T earn in Q4 FY2021?

Net income for Q4 FY2021 was $5.0 billion, and diluted earnings per share $0.69.

When did AT&T report Q4 FY2021 results?

AT&T filed its 10-K for the quarter ended 31 December 2021 with the SEC on 13 February 2023.

Quarterly results, the last 20 quarters

Q4 FY2021Q1 FY2022 †Q2 FY2022Q3 FY2022Q4 FY2022 †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue31,09529,71229,64330,04331,34330,13929,91730,35032,02230,02829,79730,21332,29830,62630,84730,70933,46631,50631,55832,322
Cost of revenue19,79512,73512,34112,20113,57112,33111,82716025,80511,95411,44211,63014,19512,03312,15011,81914,81812,56612,04712,442
Gross profit11,30016,97717,30217,84217,77217,80818,09030,1906,21718,07418,35518,58318,10318,59318,69718,89018,64818,94019,51119,880
Gross margin36%57%58%59%57%59%60%99%19%60%62%62%56%61%61%62%56%60%62%62%
SG&A9,9946,9787,2657,2027,5167,1757,0097,2057,4857,0217,0436,9587,3897,1456,9457,4547,3987,3167,2217,435
Operating income4,8945,5374,9566,012-21,0926,0026,4065,7825,2715,8475,7602,1165,3265,7546,5016,1195,7886,6587,0384,095
Operating margin16%19%17%20%-67%20%21%19%16%19%19%7%16%19%21%20%17%21%22%13%
Interest expense1,6631,6261,5021,4201,5601,7081,6081,6621,7261,7241,6991,6751,6611,6581,6551,7001,7911,8131,8831,979
Pre-tax income6,4466,5896,2607,254-23,2155,7676,1654,9802,9364,8695,0911,4305,3085,9916,09810,6534,2655,3985,8222,696
Tax rate16%22%24%13%n/a23%23%23%12%23%22%90%17%22%20%9%3%22%13%52%
Net income5,0434,8104,1576,026-23,5174,2284,4893,4952,1883,4453,597-1744,0804,3514,5009,3143,7883,8294,627891
Net margin16%16%14%20%-75%14%15%12%7%11%12%-1%13%14%15%30%11%12%15%3%
Diluted EPS$0.69$0.65$0.56$0.80-$3.14$0.57$0.61$0.48$0.31$0.47$0.49-$0.03$0.56$0.61$0.62$1.29$0.53$0.54$0.66$0.12
Operating cash flow11,2545,732n/an/an/a6,6789,92210,33611,3787,5479,09310,23511,8969,0499,76310,15211,3207,55710,87010,685
Capital expenditure3,8314,5684,7285,9214,2294,3354,2704,6474,6013,7584,3605,3026,8434,2774,8974,8876,7814,8775,7005,061
Free cash flow7,4231,164n/an/an/a2,3435,6525,6896,7773,7894,7334,9335,0534,7724,8665,2654,5392,6805,1705,624
Buybacks11.01976753.015.01881.01.04.01572.043.013.02189611,4901,8312,4752,1942,803
Dividends paid3,7493,7492,0862,0102,0142,0142,0832,0192,0202,0342,0992,0382,0372,0912,0442,0332,0121,9971,9761,950
Shares outstanding7,130m7,159m7,126m7,127m7,130m7,149m7,149m7,150m7,153m7,170m7,170m7,175m7,178m7,196m7,150m7,089m7,001m6,948m6,852m6,736m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 13 February 2023: the filing.