Welcome to our dedicated page for AT&T news (Ticker: T), a resource for investors and traders seeking the latest updates and insights on AT&T stock.
AT&T Inc. (NYSE: T) is a leading American multinational telecommunications holding company headquartered in Whitacre Tower, Downtown Dallas, Texas. As the world’s third-largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S., AT&T has a significant impact on the global communications landscape.
The company’s wireless business generates about two-thirds of its revenue, with AT&T being the third-largest wireless carrier in the U.S., connecting approximately 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which include internet access, private networking, security, voice, and wholesale network capacity, account for about 16% of the company’s revenue.
In addition to its U.S. operations, AT&T has a considerable presence in Mexico, with 22 million customers, contributing 3% to its total revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
For 2024, AT&T continues to push forward with significant investments in 5G and fiber optic networks, contributing to steady subscriber growth in these areas. The company also reported a strong financial performance in the fourth quarter of 2023, with free cash flow reaching $16.8 billion, surpassing its full-year guidance.
AT&T’s strategic efforts to drive profitable growth include enhancing its 5G and fiber networks, focusing on customer satisfaction, and expanding its broadband infrastructure. The company’s transformation initiatives are aimed at supporting margin growth and ensuring sustainable business performance.
In recent news, AT&T reported strong first-quarter results for 2024, highlighted by consistent 5G and fiber customer additions and increased mobility service and broadband revenues. The company also addressed data security concerns related to a data set released on the dark web, ensuring proactive communication with affected customers and offering credit monitoring services where applicable.
Looking ahead, AT&T plans to continue scaling its connectivity services to meet the increasing demand for seamless broadband, thereby driving durable growth for its shareholders. The company’s commitment to innovation and enhancing customer experiences remains central to its business strategy as it navigates the evolving telecommunications industry.
For more information about AT&T Inc. (NYSE:T), please visit about.att.com. Investors can learn more at investors.att.com.
Boys & Girls Clubs of America and AT&T (NYSE:T) are expanding their partnership to enhance technology access for youth across America. As part of AT&T's $5 billion commitment to bridge the digital divide by 2030, the partners will open 40 new Connected Learning Centers (CLCs) in Boys & Girls Clubs by 2027. This expansion builds on the 20 CLCs already established, which have provided access to technology for over 123,000 young people.
The CLCs offer free access to digital resources, including AT&T internet, Wi-Fi, Dell computers, and digital literacy resources. They also provide virtual and in-person tutoring opportunities with AT&T employees. This initiative aims to connect more young people to greater possibilities and help them reach their full potential, leveraging the 5,400 Boys & Girls Clubs embedded in communities across the country.
AT&T reported strong Q2 2024 results, demonstrating consistent 5G and fiber customer growth. Key highlights include:
- Revenues of $29.8 billion
- Diluted EPS of $0.49; adjusted EPS of $0.57
- 419,000 postpaid phone net adds
- 239,000 AT&T Fiber net adds
- Mobility service revenues up 3.4% YoY to $16.3 billion
- Consumer broadband revenues up 7.0% YoY to $2.7 billion
AT&T reiterated its full-year 2024 guidance, including wireless service revenue growth of ~3%, broadband revenue growth of 7%+, and free cash flow of $17-$18 billion. The company expects to achieve net debt-to-adjusted EBITDA in the 2.5x range by H1 2025 and pass 30 million+ locations with fiber by end-2025.
In April, AT&T (NYSE: T) detected illegal downloads of customer data from a third-party cloud platform. An investigation, involving top cybersecurity experts, was promptly launched to assess the criminal activity's scope. Law enforcement efforts led to at least one arrest.
The breach impacted records of calls and texts for nearly all AT&T cellular customers, MVNO customers using AT&T's network, and landline customers whose numbers interacted with cellular numbers between May 1, 2022, and October 31, 2022. Additionally, records for a small subset of customers from January 2, 2023, were affected. The data included telephone numbers and, in some cases, cell site identification numbers but excluded content of communications and personal identifiers like Social Security numbers.
AT&T assures that there is no evidence the data is publicly accessible. The company will notify affected customers and offer resources for data protection. For more information, visit att.com/DataIncident.
AT&T's board of directors declared a quarterly dividend of $0.2775 per share on the company's common shares, payable on August 1, 2024. Dividends were also declared for the company's 5.000% Perpetual Preferred Stock, Series A, at $312.50 per preferred share ($0.3125 per depositary share) and for the company's 4.750% Perpetual Preferred Stock, Series C, at $296.875 per preferred share ($0.296875 per depositary share). All dividends are payable on August 1, 2024, to stockholders of record as of July 10, 2024.
Pascal Desroches, CFO of AT&T (NYSE: T), will present updates at the Bank of America C-Suite TMT Conference on June 11. He will highlight AT&T's ongoing multiyear growth strategy, focusing on 5G and fiber connectivity. The company anticipates maintaining its financial guidance and capital investments of $21-22 billion for 2024. AT&T has seen steady customer growth and intends to pass 30 million consumer and business locations with fiber by the end of 2025. The company is also reducing costs and aims to achieve $2 billion+ in savings by mid-2026. Additionally, AT&T is leveraging partnerships to expand its fiber network outside its footprint and investing in public-private partnerships to enhance connectivity.
AT&T will webcast a fireside chat with CFO Pascal Desroches at the Bank of America C-Suite TMT Conference on June 11, 2024, starting at 8:05 a.m. ET. The webcast will be available live and for replay on AT&T's Investor Relations page. Participants are advised to join a few minutes early in case of any schedule changes.
UniDoc Health has entered a supply agreement with Aiutamoli a Vivere Foundation (AVF) to provide up to 15 H3 Health Cubes, starting with an initial delivery of three units. These AI-assisted eHealth Cubes will be deployed in Ukraine and Gaza to support communities affected by conflict. The agreement includes the design, production, transport, and installation managed by UniDoc, with AVF coordinating distribution and local relations. The first shipment is expected by Q3 2024. This partnership aims to enhance healthcare delivery in underserved areas, promoting equitable and accessible healthcare.
AT&T will release its second-quarter 2024 earnings results on Wednesday, July 24, 2024, before the New York Stock Exchange opens.
The company will host a conference call at 8:30 a.m. ET to discuss the results, with a live webcast available on its Investor Relations website.
The earnings release and related materials will also be accessible on the same site. The webcast replay and transcript will be available following the call.
AT&T and Candle Media's ATTN: have partnered to produce a new documentary, Route to Connection, highlighting the digital divide in the U.S. The film, executive produced by Emmy Award-winner Eve Van Dyke, will focus on Amarillo, TX, a community with one of the lowest internet connectivity rates. The documentary follows three residents who benefit from improved internet access, showcasing their personal and professional growth. The film will be available on ATTN:'s YouTube and Facebook starting June 14, 2024. AT&T is also investing in high-speed internet infrastructure in Amarillo, aiming to serve 22,000 residents by September 2025.
AT&T's CEO John Stankey will update shareholders at the 52nd Annual J.P. Morgan Global Technology, Media, and Communications Conference on May 21. The company continues to progress on its long-term growth strategy and aims to meet its financial guidance for 2024. AT&T's focus remains on 5G and fiber connectivity, with a capital investment forecast of $21-22 billion for 2024. The company has invested over $145 billion in wireless and wireline networks from 2019 to 2023 and plans to expand its fiber footprint to over 30 million locations by the end of 2025. Stankey will highlight the company's robust customer growth, cost-saving measures, and strategic initiatives like the Gigapower joint venture and Open Radio Access Networks (Open RAN).
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