Goldman Sachs analyst James Schneider reiterated a Buy rating on AT&T Inc T with a price target of $22.AT&T reported fiscal 2024 second-quarter revenue of $29.8 billion — just below Goldman Sachs’s and the Stret’s estimate of $30 billion. Adjusted EBITDA of $11.34 billion was in line with Goldman Sachs’s estimate of $11.37 billion and the Street’s estimate of $11.31 billion.  Free cash flow of $4.6 billion was above Goldman Sachs’s estimate at $4.3 billion and the Street at $4.3 billion on lower capital inv ...

Key TakeawaysAT&T added 419,000 new monthly postpaid customers, more than analysts projected.The company missed expectations slightly on earnings and revenue.The FCC on Monday released a report faulting AT&T for a network outage in February. AT&T (T) shares rose Wednesday after the company reported second quarter results buoyed by more new subscribers than analysts expected. The telecommunications titan reported 419,000 new postpaid subscribers, well above the 251,800 expected by analysts, according to Visi ...

FangXiaNuo We became aggressive buyers of AT&T Inc. (NYSE:T) sub $15 and moved to a house position recently when the stock eclipsed our $19 price objective on the trade. We plan to hold those shares for an investing lifetime, collecting future dividends, spinoffs, gains, etc. With the bountiful yield, letting that profit run is a real wealth-building tool. Earlier this month, we outlined our expectations for Q2 earnings. In this column, with AT&T having just reported this morning, we review the performance ...

Shares of AT&T Inc (NYSE:T) are up 3.9% at $18.93 at last glance, earlier as high as $19.08, after the telecommunication name's second-quarter earnings report. The company reiterated its full-year forecast and posted mixed results, with earnings beating estimates while revenue came in below expectations. Giving the stock a boost, however, is a reported additional 419,000 wireless phone subscribers with monthly bills, as its higher-priced plan attracted customers. Today's pop is bringing AT&T stock closer to ...

AT&T (T) reported $29.8 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 0.4%. EPS of $0.57 for the same period compares to $0.63 a year ago. The reported revenue represents a surprise of -1.17% over the Zacks Consensus Estimate of $30.15 billion. With the consensus EPS estimate being $0.58, the EPS surprise was -1.72%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectatio ...

AT&T Inc. (T) reported modest second-quarter 2024 results, as solid wireless traction and customer additions were partially offset by lower demand for legacy voice and data services. The company recorded strong subscriber growth backed by a resilient business model and robust cash flow position, driven by a diligent execution of operational plans. AT&T expects to continue investing in key areas of 5G and fiber and adjust its business according to the evolving market scenario to fuel long-term growth.Net Inc ...

[Consolidated Financial Statements](index=1&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Income](index=1&type=section&id=Consolidated%20Statements%20of%20Income) In the second quarter of 2024, AT&T's total operating revenues experienced a slight year-over-year decline of 0.4% to $29.8 billion, primarily due to a 5.4% drop in equipment revenue. Operating income fell by 10.1% to $5.8 billion, impacted by increased depreciation and amortization expenses. Consequently, net income attributable to common stock decreased by 20.1% to $3.5 billion, leading to a diluted EPS of $0.49, down from $0.61 in the same period last year Q2 and Six-Month Financial Performance (YoY) | Indicator | Q2 2024 | Q2 2023 | % Change | Six-Month 2024 | Six-Month 2023 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Operating Revenues** | $29,797 M | $29,917 M | (0.4)% | $59,825 M | $60,056 M | (0.4)% | | **Operating Income** | $5,760 M | $6,406 M | (10.1)% | $11,607 M | $12,408 M | (6.5)% | | **Net Income Attributable to Common Stock** | $3,546 M | $4,437 M | (20.1)% | $6,941 M | $8,613 M | (19.4)% | | **Diluted EPS** | $0.49 | $0.61 | (19.7)% | $0.96 | $1.19 | (19.3)% | [Consolidated Balance Sheets](index=2&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, AT&T's total assets were $398.0 billion, down from $407.1 billion at year-end 2023, reflecting a decrease in current assets, particularly cash and cash equivalents. Total liabilities also decreased to $278.7 billion from $289.6 billion, with a notable reduction in debt maturing within one year. Stockholders' equity saw a slight increase to $119.3 billion Balance Sheet Summary (as of June 30, 2024) | Account | Jun. 30, 2024 | Dec. 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | $398,026 M | $407,060 M | | Cash and cash equivalents | $3,093 M | $6,722 M | | **Total Liabilities** | $278,679 M | $289,618 M | | Debt maturing within one year | $5,249 M | $9,477 M | | Long-Term Debt | $125,355 M | $127,854 M | | **Total Stockholders' Equity** | $119,347 M | $117,442 M | [Consolidated Statements of Cash Flows](index=3&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2024, net cash from operating activities remained stable at $16.6 billion. Net cash used in investing activities decreased to $7.0 billion from $9.2 billion YoY, mainly due to lower capital expenditures. However, net cash used in financing activities increased substantially to $13.3 billion, driven by debt repayments and consistent dividend payments, resulting in a net decrease in cash and cash equivalents of $3.6 billion Six-Month Cash Flow Summary (YoY) | Activity | Six-Month 2024 | Six-Month 2023 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $16,640 M | $16,600 M | | **Net Cash Used in Investing Activities** | ($6,977 M) | ($9,241 M) | | **Net Cash Used in Financing Activities** | ($13,293 M) | ($1,530 M) | | **Net (decrease) in cash** | ($3,630 M) | $5,829 M | [Consolidated Supplementary Data](index=4&type=section&id=Consolidated%20Supplementary%20Data) In the first half of 2024, AT&T's total capital expenditures decreased by 5.7% year-over-year to $8.1 billion. The company maintained its quarterly dividend at $0.2775 per common share. The debt ratio improved, declining by 300 basis points to 51.8%, and the total number of employees decreased by 6.8% compared to the previous year - Total Capital Expenditures for the first six months of 2024 were **$8.1 billion**, a **5.7% decrease** from the same period in 2023[5](index=5&type=chunk) - The quarterly dividend declared per common share remained constant at **$0.2775**[5](index=5&type=chunk) - The company's debt ratio improved to **51.8%**, a decrease of **300 basis points** from **54.8%** in the prior year period[5](index=5&type=chunk) [Segment Results](index=5&type=section&id=Segment%20Results) [Communications Segment](index=5&type=section&id=Communications%20Segment) The Communications segment, which includes Mobility, Business Wireline, and Consumer Wireline, reported a 0.9% YoY revenue decline to $28.6 billion in Q2 2024. Segment operating income also fell by 2.4% to $7.0 billion. Growth in the Mobility and Consumer Wireline units was offset by a significant revenue and income drop in the Business Wireline unit - The Communications segment provides wireless and wireline telecom and broadband services to U.S. consumers and global businesses through its Mobility, Business Wireline, and Consumer Wireline units[7](index=7&type=chunk) Communications Segment Performance (Q2 2024 vs Q2 2023) | Reporting Unit | Operating Revenues | Operating Income | | :--- | :--- | :--- | | Mobility | $20,480 M (+0.8%) | $6,719 M (+1.6%) | | Business Wireline | $4,755 M (-9.9%) | $102 M (-74.2%) | | Consumer Wireline | $3,347 M (+3.0%) | $184 M (+9.5%) | | **Total Segment** | **$28,582 M (-0.9%)** | **$7,005 M (-2.4%)** | [Mobility](index=6&type=section&id=Mobility) The Mobility unit delivered solid results in Q2 2024, with a 0.8% YoY revenue increase to $20.5 billion, driven by a 3.4% growth in service revenue. Operating income rose 1.6% to $6.7 billion. The unit achieved strong subscriber growth with 419,000 postpaid phone net additions and improved customer loyalty, as evidenced by a reduction in postpaid phone-only churn to 0.70% Mobility Financial Highlights (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Service Revenue | $16,277 M | $15,745 M | +3.4% | | Equipment Revenue | $4,203 M | $4,570 M | (8.0)% | | **Total Operating Revenues** | **$20,480 M** | **$20,315 M** | **+0.8%** | | **Operating Income** | **$6,719 M** | **$6,613 M** | **+1.6%** | Mobility Subscriber Metrics (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Postpaid Phone Net Additions | 419,000 | 326,000 | +28.5% | | Postpaid Phone-Only Churn | 0.70% | 0.79% | (9) BP | [Business Wireline](index=7&type=section&id=Business%20Wireline) The Business Wireline unit faced significant challenges in Q2 2024, with revenues declining 9.9% YoY to $4.8 billion. This was primarily driven by a 10.6% drop in service revenue. Operating income saw a steep decline of 74.2% to $102 million, and the operating income margin contracted sharply by 540 basis points to 2.1% Business Wireline Financials (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenues** | **$4,755 M** | **$5,279 M** | **(9.9)%** | | **Operating Income** | **$102 M** | **$396 M** | **(74.2)%** | | Operating Income Margin | 2.1% | 7.5% | (540) BP | [Consumer Wireline](index=8&type=section&id=Consumer%20Wireline) Consumer Wireline demonstrated strong growth in Q2 2024, with revenues up 3.0% YoY to $3.3 billion, fueled by a 7.0% increase in broadband revenue. Operating income grew 9.5% to $184 million. The unit continued its successful fiber expansion, adding 239,000 fiber broadband subscribers and increasing total fiber connections by 13.7% YoY to nearly 8.8 million Consumer Wireline Financials (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Broadband Revenue | $2,741 M | $2,561 M | +7.0% | | **Total Operating Revenues** | **$3,347 M** | **$3,251 M** | **+3.0%** | | **Operating Income** | **$184 M** | **$168 M** | **+9.5%** | - Fiber broadband net additions were **239,000** in Q2 2024, bringing total fiber connections to **8,798,000**, a **13.7% increase** year-over-year[15](index=15&type=chunk) [Latin America Segment](index=9&type=section&id=Latin%20America%20Segment) The Latin America segment, focused on wireless services in Mexico, showed significant improvement in Q2 2024. Revenues grew by 14.1% YoY to $1.1 billion, driven by increases in both service and equipment sales. The segment achieved profitability, posting an operating income of $6 million, a substantial turnaround from the $39 million loss in Q2 2023. Total wireless subscribers in Mexico increased by 4.4% to 22.6 million Latin America (Mexico) Financials (Q2 2024 vs Q2 2023) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | **Total Segment Operating Revenues** | **$1,103 M** | **$967 M** | **+14.1%** | | **Operating Income (Loss)** | **$6 M** | **($39 M)** | **N/A** | | Operating Income Margin | 0.5% | (4.0)% | +450 BP | - Total wireless subscribers in Mexico grew by 4.4% year-over-year to 22.6 million, with postpaid net additions more than doubling to 142,000[17](index=17&type=chunk) [Supplemental Segment Reconciliation](index=10&type=section&id=Supplemental%20Segment%20Reconciliation) [Q2 2024 vs. Q2 2023 Reconciliation](index=10&type=section&id=Q2%202024%20vs.%20Q2%202023%20Reconciliation) The Q2 2024 reconciliation shows that the combined operating income from the Communications and Latin America segments was $7.01 billion. After accounting for $1.25 billion in net costs from 'Corporate and Other' activities, the total consolidated operating income for AT&T Inc. was $5.76 billion. This is a decrease from the $6.41 billion consolidated operating income reported in Q2 2023 Q2 2024 Segment to Consolidated Operating Income Reconciliation | Item | Revenues | EBITDA | Operating Income | | :--- | :--- | :--- | :--- | | **Segment Total** | $29,685 M | $11,959 M | $7,011 M | | Corporate and Other | $112 M | ($1,127 M) | ($1,251 M) | | **AT&T Inc. Total** | **$29,797 M** | **$10,832 M** | **$5,760 M** | Q2 2023 Segment to Consolidated Operating Income Reconciliation | Item | Revenues | EBITDA | Operating Income | | :--- | :--- | :--- | :--- | | **Segment Total** | $29,812 M | $11,636 M | $7,138 M | | Corporate and Other | $105 M | ($555 M) | ($732 M) | | **AT&T Inc. Total** | **$29,917 M** | **$11,081 M** | **$6,406 M** | [Six-Month 2024 vs. 2023 Reconciliation](index=11&type=section&id=Six-Month%202024%20vs.%202023%20Reconciliation) For the first six months of 2024, the total segment operating income was $13.76 billion. After deducting $2.15 billion in costs from 'Corporate and Other', the consolidated operating income for AT&T Inc. was $11.61 billion. This is lower than the $12.41 billion consolidated operating income from the same six-month period in 2023 Six-Month 2024 Segment to Consolidated Operating Income Reconciliation | Item | Revenues | EBITDA | Operating Income | | :--- | :--- | :--- | :--- | | **Segment Total** | $59,605 M | $23,614 M | $13,759 M | | Corporate and Other | $220 M | ($1,888 M) | ($2,152 M) | | **AT&T Inc. Total** | **$59,825 M** | **$21,726 M** | **$11,607 M** | Six-Month 2023 Segment to Consolidated Operating Income Reconciliation | Item | Revenues | EBITDA | Operating Income | | :--- | :--- | :--- | :--- | | **Segment Total** | $59,847 M | $22,813 M | $13,851 M | | Corporate and Other | $209 M | ($1,099 M) | ($1,443 M) | | **AT&T Inc. Total** | **$60,056 M** | **$21,714 M** | **$12,408 M** |

Connectivity investments continue to attract and retain high-value subscribers who choose both wireless and fiber serviceDALLAS, July 24, 2024 /PRNewswire/ -- AT&T Inc. (NYSE: T) reported second-quarter results that delivered durable and profitable 5G and fiber customer growth with increasing Mobility service and broadband revenues. Following consistent first-half performance, the Company reiterates all full-year 2024 financial guidance.Second-Quarter Consolidated Results Revenues of $29.8 billion Dilut ...

AT&T Inc. T will be reporting its second-quarter earnings on Wednesday. Wall Street expects 57 cents in EPS and $30 billion in revenues as the company reports before market hours. The stock is up 24.08% over the past year, 7.5% year-to-date. Let's look at what the charts indicate for AT&T stock, and how the stock currently maps against Wall Street estimates. AT&T Stock Exhibiting Bearish Trend With Buying Pressure Ahead Of Q2 Earnings AT&T is currently exhibiting a moderately bearish trend, though there are ...

AT&T Inc. (T) is scheduled to report second-quarter 2024 earnings on Jul 24. The Zacks Consensus Estimate for revenues and earnings is pegged at $30.15 billion and 58 cents per share, respectively.Earnings estimates for AT&T have declined from $2.24 per share to $2.23 for 2024 and from $2.34 per share to $2.32 for 2025 over the past 30 days.T Estimate TrendImage Source: Zacks Investment ResearchEarnings Surprise HistoryThe communications service provider delivered a four-quarter earnings surprise of 2.1%, o ...