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AT&T Inc. (NYSE: T) is a leading American multinational telecommunications holding company headquartered in Whitacre Tower, Downtown Dallas, Texas. As the world’s third-largest telecommunications company by revenue and the third-largest provider of mobile telephone services in the U.S., AT&T has a significant impact on the global communications landscape.
The company’s wireless business generates about two-thirds of its revenue, with AT&T being the third-largest wireless carrier in the U.S., connecting approximately 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which include internet access, private networking, security, voice, and wholesale network capacity, account for about 16% of the company’s revenue.
In addition to its U.S. operations, AT&T has a considerable presence in Mexico, with 22 million customers, contributing 3% to its total revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
For 2024, AT&T continues to push forward with significant investments in 5G and fiber optic networks, contributing to steady subscriber growth in these areas. The company also reported a strong financial performance in the fourth quarter of 2023, with free cash flow reaching $16.8 billion, surpassing its full-year guidance.
AT&T’s strategic efforts to drive profitable growth include enhancing its 5G and fiber networks, focusing on customer satisfaction, and expanding its broadband infrastructure. The company’s transformation initiatives are aimed at supporting margin growth and ensuring sustainable business performance.
In recent news, AT&T reported strong first-quarter results for 2024, highlighted by consistent 5G and fiber customer additions and increased mobility service and broadband revenues. The company also addressed data security concerns related to a data set released on the dark web, ensuring proactive communication with affected customers and offering credit monitoring services where applicable.
Looking ahead, AT&T plans to continue scaling its connectivity services to meet the increasing demand for seamless broadband, thereby driving durable growth for its shareholders. The company’s commitment to innovation and enhancing customer experiences remains central to its business strategy as it navigates the evolving telecommunications industry.
For more information about AT&T Inc. (NYSE:T), please visit about.att.com. Investors can learn more at investors.att.com.
AT&T's CEO John Stankey will update shareholders at the 52nd Annual J.P. Morgan Global Technology, Media, and Communications Conference on May 21. The company continues to progress on its long-term growth strategy and aims to meet its financial guidance for 2024. AT&T's focus remains on 5G and fiber connectivity, with a capital investment forecast of $21-22 billion for 2024. The company has invested over $145 billion in wireless and wireline networks from 2019 to 2023 and plans to expand its fiber footprint to over 30 million locations by the end of 2025. Stankey will highlight the company's robust customer growth, cost-saving measures, and strategic initiatives like the Gigapower joint venture and Open Radio Access Networks (Open RAN).
AT&T (NYSE:T) announced the preliminary results of its 2024 Annual Meeting of Stockholders held virtually in Dallas on May 16, 2024. All 11 nominees for the board of directors were re-elected for a one-year term. Ernst & Young was approved as the company's independent auditors with 95% of the votes. Executive officer compensation was approved with 90.3% of votes. Three stockholder proposals were defeated: adopting an independent board chairman (80.8% against), amending the clawback policy (90.4% against), and issuing a workforce civil liberties report (97.7% against). Final voting results will be filed with the SEC and posted on AT&T's Investor Relations and proxy websites.
AT&T and AST SpaceMobile have entered a definitive commercial agreement to launch the first space-based broadband network for everyday cell phones, extending their collaboration until 2030. This partnership aims to enhance connectivity, with plans to launch initial satellites this summer. These satellites will enable commercial services demonstrated by successful voice, text, and video calls via space in 2023. Chris Sambar of AT&T will join AST SpaceMobile's board of directors, reinforcing this innovative collaboration. The agreement promises connectivity in remote areas, transforming how consumers and businesses access information.
AT&T (NYSE:T) will webcast a fireside chat featuring John Stankey, CEO of AT&T, at the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference on May 21, 2024. The event will start at 8:10 a.m. ET and will be available for live viewing and replay on AT&T Investor Relations.
This conference is a significant platform where industry leaders discuss key trends and developments. AT&T's participation highlights its ongoing efforts to engage with investors and stakeholders, emphasizing its commitment to innovation in 5G and multi-gig internet services.
AT&T Inc. disclosed a data breach affecting 7.6 million current account holders and 65.4 million former account holders, exposing sensitive details like names, email addresses, phone numbers, and social security numbers. Affected customers may be entitled to compensation due to the breach. Levi & Korsinsky, LLP is investigating potential compensation for affected customers.
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