AT&T Inc. - T STOCK NEWS

AT&T and Trinity Cyber have announced the development of a Secure Internet Gateway, an innovative cybersecurity solution for the U.S. Air Force. This solution aims to significantly enhance cybersecurity protections and reduce risks for Air Force networks. With malicious actors targeting sensitive information, this collaboration aligns with the Biden Administration's efforts to strengthen national cyber defenses.

Testing of this solution marks a key step towards its broader adoption across the Department of the Air Force. The Secure Internet Gateway provides automated threat prevention, aiming to improve national cybersecurity posture and compliance with federal directives. Trinity Cyber's full content inspection capability enhances threat mitigation and reduces incident response workloads. This partnership reflects ongoing efforts to bridge industrial capabilities and government security needs.

AT&T Inc. (NYSE: T) reported strong first-quarter results with revenues reaching $30.1 billion, up 1.4% from the previous year. The company added 424,000 postpaid phone subscribers, marking the 11th consecutive quarter with over 400,000 net adds. Fiber net additions were 272,000, continuing a streak of 13 quarters with high growth. Domestic wireless service revenues increased 5.2%, and consumer broadband revenues rose 7.3%, driven by a 30.7% increase in AT&T Fiber revenue. The diluted EPS from continuing operations was $0.57, down from $0.65 year-over-year. The company's operating income improved to $6.0 billion, reflecting effective cost management, while cash from operations was $6.7 billion. AT&T remains on track to achieve $6 billion in cost savings by year-end.

AT&T will disclose its first-quarter 2023 financial results on April 20, 2023, ahead of the market opening. The earnings release and additional materials will be accessible through the AT&T Investor Relations page. A conference call to discuss the results is scheduled for 8:30 AM ET on the same day, with a live webcast available. This quarterly update will provide investors insights into the company's performance amid ongoing shifts in the telecommunications landscape.

The board of directors of AT&T (NYSE:T) declared a quarterly dividend of $0.2775 per share on common shares. They also announced quarterly dividends for preferred stock: $312.50 for Series A and $296.875 for Series C, both payable on May 1, 2023. An annual dividend of €2,875.00 for Series B preferred stock is set for May 2, 2023. These dividends are significant for shareholders, emphasizing AT&T's commitment to returning value, with record dates of April 10 and April 13 for respective shares.

AT&T has achieved key milestones in expanding its network coverage, notably increasing its reach to over 2.91 million square miles across the U.S., with a 100,000 square mile expansion in 2022. The company invested over $140 billion in its wireless and wireline networks from 2018 to 2022, including significant improvements in network resiliency. The coverage of federally recognized tribal lands has grown by 40% in the last two years. Additionally, more than 150 million people now have access to mid-band 5G spectrum, doubling targets. AT&T continues to prioritize first responders with enhanced connectivity and is laying down over 60,000 miles of fiber annually.

On March 8, 2023, AT&T's COO, Jeff McElfresh, presented at the Morgan Stanley Technology, Media, and Telecom Conference, highlighting the company's focus on strengthening customer relationships and expanding its 5G and fiber networks. He emphasized AT&T's disciplined market approach and improved distribution strategies. Despite current housing market challenges, fiber penetration rates remain stable, with plans to reach over 30 million fiber locations by 2025. The company anticipates peak capital investments in 2022 and 2023, maintaining coverage for over 290 million people with nationwide 5G. AT&T's commitment to growth and investment strategies remains steadfast.

AT&T (NYSE:T) announced a live webcast of a fireside chat featuring COO Jeff McElfresh at the Morgan Stanley Technology, Media, and Telecom Conference on March 8, 2023, starting at 2:00 p.m. ET. This session will provide insights into AT&T’s latest developments and strategic direction. Interested viewers can access the webcast live and for replay on the AT&T Investor Relations page.

With over 100 million consumers relying on its services, AT&T continues to innovate in telecommunications.

On February 27, 2023, AT&T's CFO, Pascal Desroches, provided updates at the Deutsche Bank Media, Internet & Telecom Conference. He highlighted the company's focus on growing customer relationships in 5G and fiber services, noting that wireless demand is tracking in line with recent trends. AT&T aims to reach over 200 million people with mid-band 5G in 2023 and expand its fiber footprint to more than 30 million locations by 2025. Desroches expects free cash flow growth in 2023, supported by rising wireless and fiber revenue, and a proactive cost-reduction strategy aimed at achieving a net debt-to-adjusted EBITDA of 2.5x by early 2025.

AT&T and ServiceNow have launched a new Telecom Network Inventory product aimed at assisting telecom companies in managing their 5G and fiber networks globally. Developed with AT&T's strategic guidance, this platform offers a consolidated view of network inventory, enhancing operational efficiency and customer service.

The product addresses challenges in current network management systems by providing a single platform for better data connectivity and operational agility. AT&T plans to deploy this tool internally soon, while ServiceNow continues its commitment to innovate in the telecom sector.