AT&T CEO optimistic about Trump era as earnings match estimates

As AT&T reported a solid set of earnings chief executive officer Randall Stephenson has welcomed Donald Trump's new administration and said that he believes its policies will be beneficial for the telecoms company.

AT&T released its quarterly earnings report overnight after markets closed, with the company showing adjusted fourth-earnings of 66 cents per share, in line with analysts' estimates. Its revenues for the quarter were just below expectations at $41.8bn.

The company's share price traded flat in after-hours trading following the earnings report.

Stephenson promised to increase the group's investment within the US if Trump were to deliver on his promises of reducing corporate tax.

"We know at AT&T that if you saw tax rates move to 20% to 25%, we know what we would do: we would step up our investment levels."

AT&T is currently engaged in an ambitious attempt to buy entertainment company Time Warner for $85bn, and Stephenson is hopeful that the administration will not stand in the way of the deal.

Previously Trump has said that he would oppose the deal, but during a recent meeting between the two men the merger was not discussed, according to the CEO.

On the company's results and the year ahead, Stephenson was optimistic that 2017 could be more positive for AT&T following a "transformational" period last year.

"2016 was a transformational year for AT&T, one in which we made tremendous progress toward our goal of becoming the global leader in telecom, media and technology," Stephenson said.