Wednesday, January 29, 2020

Summary of AT&T results

AT&T reported 4Q2019 revenue of $46.8 billion (~$48.0 billion excluding HBO Max investment) versus $48.0 billion in the year-ago quarter. Net income was $2.4 billion, or $0.33 per diluted common share, versus $4.9 billion, or $0.66 per diluted common share, in the year-ago quarter.

AT&T cited growth in domestic wireless services and strategic and managed business services revenues partially offset declines in revenues from domestic video, legacy wireline services and WarnerMedia.

The company completed or announced about $9 billion in non-core asset monetizations in the fourth quarter.

“We delivered what we promised in 2019 and we begin this year with strong momentum in wireless, with HBO Max set to launch in May and our share retirement plan well underway,” said Randall Stephenson, AT&T chairman and CEO. “Our 2020 outlook positions us to deliver meaningful progress on our 3-year financial and capital allocation plans as we continue to invest in growth opportunities and create value for our owners, as we did last year.”

Some highlights

  • Mobility service revenues in Q4 were up 1.8% and 1.9% for the full year.
  • Total wireless revenues (including equipment) were up 0.8% in 4Q and for the full year. 
  • Q4 229,000 postpaid phone net adds; nearly 1 million total phone net adds for full year (483,000 postpaid, 506,000 prepaid)
  • FirstNet coverage more than 75% completed
  • A total of 19.5 million premium TV subscribers – 945,000 net loss
  • AT&T TV NOW subscribers – 219,000 net loss
  • 191,000 AT&T Fiber net adds; IP broadband revenue growth of 2.7%
  • Approximately 600,000 U.S. business buildings are now lit with fiber from AT&T, enabling high-speed fiber connections to more than 2.5 million U.S. business customer locations.