From Dow Jones & Company:

AT&T Inc. expects further improvements to free cash flow in 2024, with a reported $16.8 billion in free cash flow for last year. The company models $17 billion to $18 billion for 2024, beating analysts’ expectations. AT&T’s dividend yields 6.5% and last year’s target on the metric wasn’t always a given. However, the company noted that the free-cash-flow target for 2024 is more than two times its current annualized dividend obligations. It expects growth in mobility wireless-service revenue for 2024 to fall “in the 3% range,” while consumer-broadband revenue will increase by roughly 7%. Verizon Communications Inc. also saw upside to its consumer postpaid phone additions in its own earnings report. AT&T logged earnings per share of 30 cents for the fourth quarter, whereas it had lost $3.20 on the metric a year prior, and reported revenue for the quarter inched up to $32.0 billion from $31.3 billion.



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