AT&T(T) - 2024 Q3 - Quarterly Report

Revenue Performance - AT&T's operating revenues decreased by 0.5% in Q3 2024 to $30,213 million compared to$30,350 million in Q3 2023[121] - The Communications segment's operating revenues declined by 0.6% in Q3 2024 to $29,074 million from$29,244 million in Q3 2023[121] - Latin America - Mexico segment's operating revenues increased by 3.0% in Q3 2024 to $1,022 million from$992 million in Q3 2023[121] - Mobility segment's operating revenues increased by 1.7% in Q3 2024 to $21,052 million from$20,692 million in Q3 2023[137] - Business Wireline segment's operating revenues decreased by 11.8% in Q3 2024 to $4,606 million from$5,221 million in Q3 2023[137] - Consumer Wireline segment's operating revenues increased by 2.6% in Q3 2024 to $3,416 million from$3,331 million in Q3 2023[137] - Operating revenues decreased in Q3 2024, primarily due to declines in Business Wireline and Mobility equipment revenue, partially offset by gains in Mobility and Consumer Wireline[139] - Mobility service revenue increased by 4.0% in Q3 2024 compared to Q3 2023, reaching $16,539 million[141] - Consumer Wireline broadband revenue increased by 6.4$2,838 million[157] - Broadband revenues increased in Q3 2024 driven by higher fiber customers and ARPU[159] - Legacy voice and data service revenues decreased in Q3 2024 due to declining demand[160] Operating Income and Margins - AT&T's operating income decreased by 63.4% in Q3 2024 to $2,116 million from$5,782 million in Q3 2023[125] - Communications segment operating income margin decreased from 24.9% in Q3 2023 to 24.6% in Q3 2024[140] - Mobility operating income margin increased from 32.7% in Q3 2023 to 33.3% in Q3 2024[148] - Business Wireline operating income margin decreased from 6.7% in Q3 2023 to (0.9)% in Q3 2024[155] - Consumer Wireline operating income increased by 22.5% in Q3 2024 compared to Q3 2023[157] - Consumer Wireline operating income margin increased to 5.7% in Q3 2024 from 4.8% in Q3 2023[164] - Mexico operating income margin improved to 1.0% in Q3 2024 from -2.9% in Q3 2023[172] Subscriber Metrics - Mobility subscribers increased to 116,066,000 in September 2024 from 112,857,000 in September 2023[138] - Total domestic broadband connections increased to 15,344,000 in September 2024 from 15,296,000 in September 2023[138] - Total Mobility subscribers increased by 2.8% to 116,066 in September 2024 compared to September 2023[142] - Postpaid phone net additions decreased by 13.9% in Q3 2024 compared to Q3 2023[144] - Total Broadband and DSL Connections increased by 0.6% to 13,972,000 in September 2024 compared to 13,887,000 in 2023[158] - Fiber Broadband Connections grew by 12.3% to 9,024,000 in September 2024 from 8,034,000 in 2023[158] - Total Retail Consumer Voice Connections declined by 17.8% to 3,102,000 in September 2024 from 3,772,000 in 2023[158] - Fiber Broadband Net Additions decreased by 23.6% to 226,000 in Q3 2024 compared to 296,000 in Q3 2023[159] - Mexico Wireless Subscribers increased by 5.3% to 22,911,000 in September 2024 from 21,754,000 in September 2023[166] - Mexico Wireless Net Additions rose to 275,000 in Q3 2024 from 65,000 in Q3 2023[168] Financial Position and Cash Flow - Cash provided by operating activities for the first nine months of 2024 was $26,875 million, slightly down from$26,936 million in the same period of 2023[185] - Cash used in investing activities for the first nine months of 2024 totaled $12,127 million, primarily due to$13,420 million in capital expenditures[187] - Cash used in financing activities for the first nine months of 2024 was 18,855 million, driven by debt repayments, dividend payments, and vendor financing payments[191] - AT&T's cash and cash equivalents decreased by 4,136 million to $2,586 million as of September 30, 2024, compared to December 31, 2023[183] - Capital expenditures for the first nine months of 2024 were$13,420 million, with total capital investment including vendor financing at 14,991 million[188] - AT&T paid 6,171 million in dividends on common and preferred shares during the first nine months of 2024, up from $6,116 million in the same period of 2023[195] - The company's debt ratio decreased to 52.2$127,501 million, including 33,477 million in foreign currency-denominated debt[192] - The weighted average interest rate of AT&T's long-term debt portfolio was approximately 4.2% as of September 30, 2024[192] - AT&T's net debt-to-EBITDA ratio was in compliance with the covenant requirement of not more than 3.75-to-1 as of September 30, 2024[199] Net Income - AT&T's net income attributable to common stock decreased to (226) million in Q3 2024 from $3,444 million in Q3 2023[125]