At&T Stock Price, News & Analysis

AT&T (NYSE:T) has announced the release date for its third-quarter 2024 financial results. The company will unveil its earnings on Wednesday, October 23, 2024, before the New York Stock Exchange opens. Following the release, AT&T will host a conference call at 8:30 a.m. ET to discuss the results. Investors and interested parties can access the earnings release, related materials, and a live webcast of the call through the AT&T Investor Relations website. A replay of the webcast and transcript will be available after the call. This announcement demonstrates AT&T's commitment to transparency and shareholder communication, providing a clear timeline for investors to anticipate and analyze the company's financial performance.

Oracle has announced the integration of AT&T IoT connectivity and network APIs into its Enterprise Communications Platform (ECP). This collaboration enables Oracle's industry cloud application customers to manage IoT devices on the AT&T network within a single platform. The integration, available across OCI regions in the U.S., offers:

1. IoT edge application management
2. High-performing, reliable connectivity
3. Real-time data intelligence

Notably, FirstNet®, Built with AT&T, and ECP are providing the foundation for Oracle's Public Safety suite, delivering secure communications for critical components like dispatch command centers and near real-time camera feeds for first responders.

Mynd Immersive and the CTA Foundation have launched the Great American Elderverse™ program, supported by major tech companies and the Steven & Alexandra Cohen Foundation. This initiative aims to provide immersive content and technology to underserved seniors across the United States, enhancing their quality of life through virtual experiences and therapeutics.

The program will initially cover 60 communities in the tri-state area, with plans to expand nationwide throughout 2024 and 2025. Key partners include AT&T (5G service), HTC VIVE (immersive glasses), NETGEAR (WiFi hotspots), and Select Rehabilitation (clinical leadership). The initiative is based on research showing significant benefits of Immersive Therapeutics (ITx) for seniors, including decreased isolation, improved mood, and better relationships with caregivers.

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.