UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-08610 AT&T INC. Incorporated under the laws of the State of Delaware I.R.S. Employer Identification Number 43-1301883 208 S. Akard ...

A string of subpar second-quarter earnings reports is hurting the stock market. The technology-laden Nasdaq index fell 3% (more than 500 points) after the initial financial results from mega-cap tech companies disappointed. However, the poor results are by no means limited to technology concerns.Restaurants, airlines, healthcare companies and some financial institutions have delivered earnings disappointments since the start of July, contributing to the market volatility that has characterized the start of ...

AT&T and Verizon offer attractive dividend yields, but their financial health and growth prospects differ, presenting investors with a choice between AT&T's lower payout ratio and Verizon's stronger revenue growth.AT&T (T 5.22%) and Verizon Communications (VZ 2.01%) are two telecom giants favored by many income investors for their exceptionally high yields. These companies have been transforming their businesses, focusing on 5G wireless technology and fiber broadband expansion.Which of these high-yield divi ...

Customers are slow to upgrade devices, but AT&T is still gaining plenty of new subscribers.Coming a few days after a mixed earnings report from rival Verizon Communications, AT&T's (T 5.22%) second-quarter report suffered from a similar problem. Wireless customers have been slow to upgrade their smartphones, leading to lower equipment revenue for the wireless leaders.AT&T saw equipment revenue drop 5.8% year over year in the second quarter, enough to cause the company to miss analyst expectations. But unlik ...

AT&T is finding that by offering both mobility and broadband services, it’s gaining and retaining more customers.The company added 419,000 postpaid phone subscribers during the second quarter, up from 326,000 during the same quarter a year earlier, executives said Wednesday (July 24) during the company’s quarterly earnings call.“This put us modestly ahead of last year’s pace despite ongoing wireless market normalization,” John Stankey, president, CEO and director of AT&T, said during the call.The company’s ...

AT&T added new subscribers hand over fist in the second quarter, and free cash flow is rising.Shares of the telecommunications giant AT&T (T 4.92%) popped this morning after the company released second-quarter results showing strong subscriber growth and impressive free cash flow.AT&T's stock was up 4.9% as of 11:56 a.m. EDT.New subscribers and rising free cash flowAT&T's earnings and revenue were nothing to write home about this quarter. Sales fell slightly to $29.8 billion and were below analysts' consens ...

U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 100 points on Wednesday.The Dow traded down 0.82% to 40,025.48 while the NASDAQ fell 2.92% to 17,472.06. The S&P 500 also fell, dropping, 1.84% to 5,453.67.Check This Out: Jim Cramer Calls Axsome A ‘Double Or Nothing Stock,’ Says SAP Is ‘Incredible’ Leading and Lagging SectorsUtilities shares jumped by 0.8% on Wednesday.In trading on Wednesday, consumer discretionary shares fell by 3%.Top HeadlineShares of AT&T Inc. T rose a ...

USA News Group Commentary Issued on behalf of Scope AI Corp. VANCOUVER, BC, July 24, 2024 /PRNewswire/ -- USA News Group – The telecom market just witnessed a security breach nightmare, with the data (records of calls and texts) of nearly all customers of a giant getting stolen by hackers. The incident in question involved AT&T Inc. (NYSE: T), which immediately issued a press release to address the situation, pointing towards the probability that the hackers illegally downloaded the data from a third-party ...

jetcityimageAT&T's stock (NYSE:T) has been on a consistent uptrend this year, albeit trailing the broader S&P 500 (SP500) index. And the company’s latest earnings results, which highlight resilient service revenue growth – particularly postpaid phone and fiber uptake – continues to provide tangible fundamental support to its persistent valuation upsurge. Despite its slight revenue miss, AT&T has continued to deliver substantial net adds across its core postpaid phone and fiber businesses, while benefitt ...

Financial Data and Key Metrics Changes - Second quarter revenues were slightly down due to declines in Business Wireline service revenue and low-margin mobility equipment revenues, offset by growth in higher-margin wireless service revenues and fiber revenues [11] - Adjusted EBITDA increased by 2.6% for the quarter, with first half adjusted EBITDA growth at 3.4%, and expectations for full-year adjusted EBITDA growth in the 3% range [11][12] - Free cash flow for the second quarter was $4.6 billion, up nearly $400 million year-over-year, driven by sustained growth in adjusted EBITDA and lower capital investment [12][24] Business Line Data and Key Metrics Changes - Mobility business added 419,000 postpaid phone net adds in Q2, with a 5.3% increase in Mobility EBITDA, driven by a 3.4% growth in service revenues [5][15] - Consumer Wireline added 52,000 broadband subscribers, with AT&T Fiber subscribers increasing by 239,000 in the quarter, leading to a 7.1% growth in Consumer Wireline EBITDA [16][19] - Business Wireline EBITDA declined by 13.9% due to ongoing declines in legacy voice services, with expectations for mid-teens range decline for the full year [20][21] Market Data and Key Metrics Changes - Nearly four out of every ten AT&T Fiber households also choose AT&T as their wireless provider, indicating a strong convergence strategy [7] - AT&T Fiber now passes nearly 28 million locations, with a target to exceed 30 million by the end of 2025 [18][46] - The company expects to continue seeing strong returns on fiber investments, potentially expanding beyond initial build targets by 10 to 15 million additional locations [18][46] Company Strategy and Development Direction - The company is focused on becoming the leading provider of converged 5G and fiber services, leveraging its investment-led strategy to drive consistent results [4][10] - The convergence strategy is expected to drive greater returns on invested capital in both mobility and broadband businesses [8][9] - The company is actively exploring partnerships and capital-light arrangements to expand fiber availability and enhance its converged offerings [9][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year financial guidance despite ongoing challenges in certain business segments [10][12] - The company anticipates higher activity levels in the second half of the year, driven by new device availability and seasonal purchasing trends [6][15] - Management acknowledged the impact of external factors, including network outages and data breaches, but emphasized the company's commitment to reliability and customer trust [59][61] Other Important Information - The company has reduced net debt by about $2 billion year-to-date, with a target of achieving a net-debt-to-adjusted EBITDA ratio in the 2.5 times range by the first half of next year [22][24] - Capital expenditures for the quarter were $4.4 billion, with expectations for total capital investments in the $21 billion to $22 billion range for the year [13][24] Q&A Session All Questions and Answers Question: Concerns about upgrade rates with new iPhone and implications for churn and profitability - Management indicated that they are prepared to respond to customer needs and expect seasonal trends to influence upgrade activity, but the impact of new devices remains uncertain [26][28][29] Question: Update on Gigapower and potential partnerships with open-access providers - Management deferred detailed insights on Gigapower performance but expressed optimism about growth opportunities and partnerships in the fiber space [32][34] Question: Update on ACP and fiber passing targets - Management noted that the ACP impact has been manageable and that they are on track to meet fiber passing targets, with plans to provide further updates on capital allocation strategy [37][41] Question: Fiber build-out pace and Internet Air run-rate expectations - Management confirmed that they are well on track to meet fiber passing targets and expect continued growth in Internet Air, emphasizing a selective approach to deployment [45][50] Question: Race to convergence and market share advantages - Management argued that convergence leads to happier customers with lower churn and emphasized the company's unique position to capitalize on this trend [53][55] Question: Impact of network outages and data breaches on business - Management acknowledged the disappointment over recent issues but emphasized their commitment to reliability and transparency with customers [59][61]