AT&T (T) FY2023 results: revenue $122.4 billion, up 1.4% on the year
AT&T Inc. (T) reported revenue of $122.4 billion for fiscal 2023, the year ended 31 December 2023, up 1.4% on the year before. Net income was $14.4 billion, and diluted earnings per share $1.97. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$122.4 billion
+1.4% on the year
FY2016FY2023
Operating margin
19.2%
-3.8% a year earlier
FY2016FY2023
Net income
$14.4 billion
FY2016FY2023
Diluted EPS
$1.97
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
38,314
32,023
41,957
+19.6%
Capital expenditure
17,853
19,626
15,545
-9.0%
Free cash flow
20,461
12,397
26,412
+65.0%
Free cash flow margin
16.7%
10.3%
19.7%
Cash from investing
-19,660
n/a
-32,089
Cash from financing
-15,614
n/a
1,578
Depreciation and amortisation
18,777
18,021
17,852
+4.2%
Share-based compensation
479
518
447
-7.5%
Buybacks
194
890
202
-78.2%
Dividends paid
8,136
9,859
15,068
-17.5%
Dividend per share
$1.11
$1.11
$2.08
0.0%
Diluted shares, weighted
7,258m
7,587m
7,199m
-4.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
117,442
106,457
183,855
+10.3%
Redeemable equity
1,973
0.0
n/a
Debt
137,331
135,890
175,631
+1.1%
Operating lease liabilities
17,568
18,659
18,956
-5.8%
Finance lease liabilities
1,655
1,647
1,442
+0.5%
Other liabilities
131,091
140,200
171,738
-6.5%
Total liabilities and equity
407,060
402,853
551,622
+1.0%
Goodwill
67,854
67,895
92,740
-0.1%
Securities held for sale or to maturity
1,228
1,132
1,380
+8.5%
Cash and equivalents
6,722
3,701
19,223
+81.6%
Receivables
10,289
11,466
12,313
-10.3%
Inventory
2,177
3,123
n/a
-30.3%
Other assets
318,790
315,536
425,966
+1.0%
Total assets
407,060
402,853
551,622
+1.0%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.