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AT&T Earnings Email

AT&T Latin America Team:

AT&T’s first-quarter results show that we’re delivering on what we promised, starting with paying down debt through strong free cash flow. We’re on track to pay down about 75% of the $40B we borrowed for Time Warner by year-end. U.S. Mobility, the largest contributor to revenues and profits, continues to grow and build momentum. Entertainment Group not only stabilized – but grew EBITDA¹ – exceeding expectations. WarnerMedia had a strong start to the year, with solid revenue growth and double-digit operating income growth.

Our performance in the quarter speaks volumes about our focus on our strategic priorities and growing our business. Now we need to carry that momentum through the rest of the year.

AT&T Inc. Key Financial Results

		Adjusted earnings per share of $0.86, up 1.2%
		Free cash flow of $5.9 billion
		Consolidated revenues of nearly $45 billion

AT&T Latin America is doing our part to support the corporate priorities. Revenues grew 3.3% and profitability expanded on a comparable basis.² Subscriber growth slowed as we focused on improving the quality of our subscriber base. But that will help us drive profitable growth – our key objective for the year.

AT&T Mexico grew subscribers, showed significant improvement in profitability and continues to have line of sight to break-even EBITDA¹ in the second half of the year. We continue to take operational steps to improve the quality of our sales and profitability. Given our focus on quality, we expect to see continued net add growth as churn improves.

Vrio has gained market share and continues to generate positive cash flow. Revenues were up year over year on a comparable basis,² and the subscriber base is stable.

AT&T Latin America Key Financial Results

		Revenues of $1.7 billion, up 3.3% on a comparable basis²
		EBITDA¹ grew on a comparable basis²
		Simple free cash flow³ improved

Thanks for all you’ve done to contribute to a positive start to the year.

Let’s keep our focus on profitable growth and what each of us can do to make it happen.

That’s how AT&T Latin America and AT&T Inc. will stay on track to meet our goals for 2019 and build on our global leadership as a modern media company.

Watch for communications from your AT&T Mexico and Vrio leadership on first quarter results and plans going forward.

Thanks for your commitment,

¹ Earnings Before Interest, Taxes, Depreciation and Amortization.
² Without foreign exchange impact and excluding Venezuela.
³ EBITDA less capital expenditures.

View more information on AT&T’s 1^st Quarter Results.

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AT&T Inc. Key Financial Results

AT&T Latin America Key Financial Results

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