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AT&T $T Q2 2024 Results

by Team Lumida
July 25, 2024
in Equities
Reading Time: 2 mins read
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Key Takeaways:

  • EPS: In-line with expectations
  • Revenue: Missed by 0.6%
  • Total revenue: $29.8B , down 0.4% YoY, down 1.6% QoQ
  • Stock price: Up 2% following results
  • 419,000 postpaid phone net adds, surpassing expectations of 280,000
  • Mobility EBITDA grew 5.3% YoY to $9.2B, with service revenue up 3.4%
  • Added 239,000 AT&T Fiber subscribers, now passing nearly 28 million locations
  • Consumer Wireline EBITDA grew 7.1% YoY, driven by 18% fiber revenue growth
  • Business Wireline EBITDA declined 13.9% YoY due to legacy voice service declines

Forward-Looking Statements and Insights:

John Stankey, CEO: “We have a lot of opportunity to grow profitably on fiber and convergence in a variety of different models. And it’s — go back to the remarks I just made, we understand how to sell both products together, number-one. And I think as I move around the industry, one of the things I pick up, I’m being shared with those that we can partner with is, I think people notice that we seem to have a formula that’s different in its capabilities and its effectiveness than maybe what they see occurring in other pockets around the United States.”

Pascal Desroches, CFO: “Looking into the second half of the year, we expect cash taxes to be a billion dollars higher compared to the second half of last year. We also expect to incur a onetime payment of $480 million in the third quarter related to our wireless network transformation. Overall, we’re on pace to deliver on our full-year free cash flow guidance in the $17 billion to $18 billion range.”

Tags: $TAT&TEARNINGS
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