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AT&T Earnings Email

 

Q4 2019 AT&T Earnings

 

AT&T Latin America team,

As you know, AT&T announced its Q3 results today. And we reported some positive highlights in our Mexico and Vrio operations. Before I discuss them, I want all of you to know how grateful I am for the way you have responded to the unprecedented challenges posed by COVID-19. It’s been an inspiration to see you rise to every challenge, serve our customers and look after one another. Going forward, I can assure you of our continued commitment to helping safeguard your health and safety.

While our revenues were down year over year – largely due to foreign exchange pressures and the economic impacts of the pandemic – we made good progress in reducing our operating expenses. In Mexico, our relentless pursuit of cost efficiencies narrowed our EBITDA loss by $38 million versus Q3 2019. And Vrio delivered a solid quarterly EBITDA of $78 million.

After the initial impact from the pandemic, we experienced a healthy bounce-back in our volumes in Mexico and Vrio, as well as a strong reduction in churn in Mexico. Our Mexico operations reported 472,000 prepaid net adds, and a significant improvement in postpaid net losses year over year. Vrio reported 229,000 net adds in Q3, a big improvement over Q3 2019 when we lost 167,000 subscribers.

We look forward to building on that momentum with the help of two initiatives: First, our new customer-centric culture program that we launched in Vrio and in Mexico, including our “Change the Game” rebranding campaign. And second, our expanded portfolio of new and more effective digital and e-commerce tools to meet our customers’ needs while delivering a more frictionless experience.

I told you at the end of Q2 that we were operating in unprecedented times. And since then, I have to say you’ve demonstrated resilience, agility and the will to win.

I am so proud of this team! Be safe. Stay strong. And thank you again for all you do.

 

Lori Lee Signature
AT&T
 

View more information on AT&T’s 3rd quarter results