AT&T reports $20 billion tax cuts profit windfall, record low subscriber churn

The $1.5 trillion tax cuts that the government passed last month is beginning to look great for companies like AT&T or Verizon, which had a bunch of deferred taxes on their books. After Verizon announced it can now tack $17 billion in extra profit to its quarterly results, thanks to the new tax law, AT&T came out swinging, and booked $20 billion in Q4.

That's right, the carrier will be having a windfall, but mostly on paper, as due to the capital-intensive nature of the carrier business, those taxes could have been put off indefinitely anyway. Still, the move to bring ...