AT&T Stock Leaps After Q4 Earnings Beat, Dividend Support

Updated at 9:56 am EST

AT&T Inc.  (T) – Get Free Report posted better-than-expected fourth quarter earnings with a muted near-term outlook Wednesday, while adding that it plans to pay down debt as a top priority after meeting dividend payments.

AT&T said adjusted earnings for the three months ending in December were pegged at 61 cents per share, up 9% from last year and just ahead of the Street consensus forecast of 57 cents per share. 

At $25 billion impairment charge, linked to last year’s soaring interest rates, pushed the group into an operating loss of $23.1 billion, AT&T said.