At&T Stock Price, News & Analysis

AT&T Inc. has appointed William E. Kennard as its new chairman, effective January 2021, following the retirement of Randall Stephenson. This decision aligns with AT&T's commitment to strong corporate governance, marking a transition to an independent chairman. Kennard brings extensive experience from roles as FCC Chairman and U.S. Ambassador to the EU, alongside his tenure with The Carlyle Group. He aims to enhance long-term value for stakeholders while continuing to support AT&T's diverse board structure.

AT&T launches a new wireless service discount to support small and medium-sized businesses (SMBs) amid COVID-19. The initiative includes a $10 monthly discount for qualifying business customers on eligible Unlimited plans and waives home internet data overage charges until December 31. An Alignable survey indicates 42% of SMB owners risk failure in 4Q 2020. AT&T also provides resources such as virtual playbooks and free webinars to help businesses adapt to the shift toward online operations, enabling them to thrive in challenging conditions.

AT&T Inc. (NYSE:T) posted strong third-quarter results, highlighting solid subscriber growth in wireless and fiber broadband sectors. The company reported over 5 million domestic wireless net adds and 357,000 fiber net adds, with expectations of $26 billion or higher in free cash flow for 2020. Despite a revenue decline to $42.3 billion, impacted by the COVID-19 pandemic, AT&T maintained a strong cash flow of $12.1 billion. The adjusted earnings per share (EPS) was $0.76, down from $0.94 year-over-year. The net debt declined by $2.9 billion, indicating financial resilience.

The annual REVOLT Summit x AT&T will be held virtually from October 23-25, featuring prominent artists like DaBaby and Killer Mike. The free event aims to engage young Black leaders through panels on social issues, economic empowerment, and political activism. Highlights include discussions on navigating challenges in 2020, a $10,000 talent competition, and a job fair with major companies. This initiative underscores AT&T's commitment to supporting Black media and community engagement.

AT&T, WarnerMedia, and General Motors have enhanced the driving experience by integrating AT&T's connectivity with WarnerMedia's entertainment offerings. Now, select Chevrolet, Buick, GMC, and Cadillac vehicle owners can access WarnerMedia RIDE, featuring unique video content, podcasts, and HBO Max for eligible data plan subscribers. With over 1 million data subscribers, this partnership aims to enrich the in-car experience for families. WarnerMedia RIDE is available at no extra cost for AT&T Unlimited Plan customers. Safety features have been prioritized to minimize distractions during driving.

AT&T has announced that it has the fastest nationwide 5G network for Q3 2020, marking its seventh consecutive quarter of being recognized for having the fastest overall wireless network. The accolade is based on Ookla's Speedtest results, which highlight consumer-driven performance metrics. AT&T has invested over $125 billion in its U.S. networks from 2015 to 2019, outpacing other public companies. The company continues to enhance its services with initiatives like the Unlimited Your Way plan, allowing customization of wireless options for customers.

On October 13, 2020, AT&T announced new smartphone deals for all customers, offering up to $700 off select Android devices with trade-in. This initiative is aimed at enhancing customer satisfaction by providing equal access to discounts regardless of carrier switches. Business customers can also benefit from discounts, including a $100 bill credit with smartphone upgrades. With the introduction of the Unlimited Your Way plan, customers now have more flexibility in choosing wireless services. AT&T emphasizes its nationwide 5G coverage, claiming to have the fastest network per recent Speedtest data.

AT&T announced the launch of the iPhone 12 lineup, featuring models like iPhone 12 Pro and iPhone 12, all equipped with 5G capabilities. Customers can pre-order from October 16, with in-store availability starting October 23. Notably, new and existing customers can acquire the iPhone 12 for $0 with a qualifying installment plan. The new models include advanced features such as improved cameras and the A14 Bionic chip, available in multiple finishes. Nationwide 5G access is included in all Unlimited plans, starting at $35/month for four lines.

AT&T Inc. (NYSE: T) has concluded the sale of its stake in Central European Media Enterprises Ltd. (CME) to Czech investment firm PPF Group N.V. for $1.1 billion in cash. This divestiture reduces AT&T's debt obligations by approximately $575 million, aligning with its strategy to monetize non-core assets and bolster shareholder value. AT&T aims to lower its net debt to strengthen its balance sheet. Upcoming financial results will be announced on October 22, 2020.