At&T Stock Price, News & Analysis

At the UBS Global TMT Conference, AT&T COO Jeff McElfresh provided a positive update on the company’s growth strategies. He highlighted continued healthy customer growth in 5G and fiber services, supported by high demand. The company aims to reach over 30 million fiber locations by 2025, with present capabilities at 18.5 million for consumers and 3 million for businesses. Capital investments are projected around $24 billion for 2022, while free cash flow targets remain at $14 billion.

Delaware County, Indiana, has announced a $2.3 million project with AT&T to deliver fiber internet with speeds up to 5 Gbps to nearly 1,250 locations. The project, pending final contract approval, aims to enhance digital connectivity and economic opportunities in the area. AT&T's initiative underscores a public-private partnership to close the digital divide, improving internet access for residents and businesses alike. The buildout is expected to be completed within 18 months once the contract is finalized.

AT&T will hold a webcast of a fireside chat featuring COO Jeff McElfresh at the UBS Global TMT Conference on December 6, 2022, starting at 8:20 a.m. ET. The event will be accessible live and for replay on the AT&T Investor Relations website, encouraging attendees to log in early due to potential schedule changes. AT&T, serving over 100 million consumers and nearly 2.5 million businesses, continues to innovate in telecommunications.

AT&T's CFO, Pascal Desroches, spoke at the Morgan Stanley European Technology, Media & Telecom Conference, outlining the company's focus on growth through 5G and fiber. AT&T is experiencing healthy customer demand and has achieved cost savings from recent investments. The company reported accelerating third quarter adjusted EBITDA growth and aims to continue its fiber expansion, targeting over 30 million locations by 2025. Despite inflationary pressures, Desroches remains confident in AT&T's connectivity services and expects strong capital investment levels while maintaining free cash flow guidance.

AT&T has been awarded the 2022 US Dedicated Internet Access Market Leadership Award by Frost & Sullivan, highlighting its strong performance in the dedicated internet service market. The AT&T Dedicated Internet service, which serves approximately 9.5 million business locations in the U.S., utilizes a robust IP backbone that handles 535.7 petabytes of daily traffic. Features include dedicated bandwidth from 2 Mbps to 1 Tbps, robust SLAs, and enhanced customer service. The award recognizes AT&T's innovative offerings and distinguished brand strength in the telecommunications sector.

AT&T and Citi have launched the new AT&T Points Plus Card, a no annual fee credit card aimed at rewarding wireless customers. The card allows cardmembers to earn up to $240 annually in statement credits for their AT&T wireless bills after eligible spending. Customers earn 3 ThankYou Points per dollar spent at gas stations, 2 Points at grocery stores, and 1 Point on other purchases. New cardholders can also receive a $100 bonus after spending $1,000 within the first three months.

AT&T will host a webcast of a fireside chat featuring CFO Pascal Desroches at the Morgan Stanley European Technology, Media & Telecom Conference on November 17, 2022, starting at 6:20 a.m. ET. The event will be accessible live and for replay on AT&T Investor Relations' website. AT&T connects over 100 million U.S. customers and nearly 2.5 million businesses, providing cutting-edge communication services, including 5G wireless and multi-gig internet.

AT&T has opened its 20th Connected Learning Center (CLC) in Detroit, part of a broader initiative to establish 50 centers nationwide in collaboration with Boys & Girls Clubs. This project is part of a $2 billion commitment from 2021-2023 aimed at bridging the digital divide by providing communities with internet access, computers, and digital skills. The centers offer free resources including AT&T Fiber internet and tutoring, assisting students and families in underserved areas. CEO John Stankey emphasizes the importance of these centers for fostering educational and economic success.

AT&T (NYSE: T) reported strong subscriber growth in Q3, adding 708,000 postpaid phone subscribers and over 2.2 million overall. The company also achieved 338,000 net adds in AT&T Fiber, driving a 5.6% increase in wireless service revenues—the best growth in over a decade. Consolidated revenues from continuing operations were $30 billion, with diluted EPS at $0.79. The firm expects adjusted EPS for the full year to exceed $2.50, underpinned by robust cash flow of $3.8 billion.