AT&T swings to profit, helped by pension plan gain

SAN FRANCISCO (MarketWatch)
AT&T Inc.  citing a one-time gain tied to its pension plan,  fourth-quarter net income of $6.9 billion, or $1.31 a share, reversing a year-ago loss of $3.9 billion, or 68 cents a share
Adjusted to exclude one-time items, the company's earnings rose nearly 21% to 53 cents a share from 44 cents
Revenue for the three months ended Dec. 31 rose 1.8% to $33.16 billion from $32.58 billion
Analysts surveyed by FactSet had expected the telecommunications company to post adjusted earnings of 51 cents a share on $33.1 billion in revenue
AT&T, a Dow component, said it expects 2014 adjusted per-share earnings growth in the mid-single digit range
AT&T shares fell as much as 1.8% in after-hours trade
Prior to the report, AT&T shares were down 1.2% from where they traded 12 months ago compared with a 14.7% gain by the Dow Jones Industrial Average over the same period