DALLAS — AT&T Inc. today reported fourth-quarter net income of $5.04 billion.

The company said it had net income of 69 cents per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The telecommunications company posted revenue of $40.96 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $40.42 billion.

For the year, the company reported profit of $20.08 billion, or $2.76 per share. Revenue was reported as $168.86 billion.

AT&T expects full-year earnings in the range of $3.10 to $3.15 per share.