ADT Reports Q4 Net Loss as Total Revenue Improves 7% | #TpromoCom #ADT #Financial #Business | The net loss was attributed to the prior year’s income tax benefit, plus a goodwill impairment loss due to underperformance of ADT’s Canadian business.
BOCA RATON, Fla. — ADT (NYSE: ADT) reported a fourth-quarter loss of $149 million late on Monday, compared to net income of $638 million. For the full year, the company reported a net loss of $609 million, or 81 cents a share, compared to net income of $343 million, or 53 cents a share.
ADT’s shares fell more than 10% in after-hours trading Monday. Shares had been gaining 2.7% during regular trading hours ahead of the quarterly results announcement.
For its fourth quarter ending Dec. 31, ADTreported total revenue of $1.19 billion, a 7% increase from the same period a year ago or $80 million year-over-year. This includes incremental revenue associated with acquisitions.
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