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Roberto Machado Noa/LightRocket via Getty Images

AT&T beat investors' expectations with strong wireless subscriber growth and its lowest-ever fourth-quarter subscriber cancellation rate.

What stands out: Despite the set-back of the Justice Department challenging its acquisition of Time Warner Inc., AT&T had some big wins in Washington in 2016, with the new tax law giving a major boost to its bottom line.

  • The Republican tax law lowered its tax rate from nearly 33% to 21%. AT&T said last month it would give $1,000 bonuses to more than 200,000 employees due to the bill, and would spend $1 billion in additional investment in the U.S.

On Time Warner: AT&T CEO Randall Stephenson said, "we look forward to presenting our case in court and closing the deal."

Legacy losses: AT&T reported $41.7 billion in revenue for the quarter, compared to $41.8 billion for the year-ago quarter. The slight drop was due to declines in legacy services and domestic video. AT&T said those losses were mostly offset by growth in wireless equipment and international business.

Thanks in part to the tax cuts, AT&T reported $19 billion in reported fourth-quarter net income, or $3.08 per diluted share. That's compared to $2.4 billion, or $0.39 per diluted share, in the year-ago quarter.

Go deeper

Republicans threaten to shut down government over vaccine mandates

Sen. Mike Lee (R-Utah) in the Capitol in November 2020. Photo: Joshua Roberts/Getty Images

Conservative Republicans in the House and Senate are planning to force a government shutdown Friday to deny funding needed to enforce the Biden administration's vaccine mandates on the private sector, according to Politico.

Why it matters: Congress has until the end of the week to pass a stopgap measure to extend funding into 2022, though objection from a small group of Republicans could shut down the government.

Electric car prices could go up before they come down

Illustration: Eniola Odetunde/Axios

The secret to affordable electric vehicles is cheaper batteries. But after years of falling prices, battery costs are now headed in the wrong direction.

Why it matters: Costlier batteries could drive up the price of electric vehicles — threatening the auto industry's transition away from fossil fuels, and, in turn, society's fight against climate change.

The Supreme Court's abortion showdown arrives

Protesters gather at the Supreme Court during arguments about the Texas abortion law Nov. 1. Photo: Jabin Botsford/The Washington Post via Getty Images

The Supreme Court will debate today whether to overturn Roe v. Wade, and neither side is trying to lower the stakes — or to make today’s case anything less than a referendum on Roe’s very survival.

The big picture: Conventional wisdom, on both the left and right, says the court is likely to chip away at abortion rights without overturning its precedents outright. But neither side has spent much time trying to help the justices thread that needle.