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AT&T Earnings Email

Team:

Our 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 what we borrowed for Time Warner by year-end. Mobility, the largest contributor to revenues and profits, continues to grow and build momentum. Entertainment Group not only stabilized – but grew EBITDA – exceeding expectations. WarnerMedia had a strong start to the year, with solid revenue growth and double-digit operating income growth. And our wireless network has not only been recognized for being the best,¹ but was recently named the fastest,² as well.

Our performance in the quarter speaks volumes about our focus on our strategic priorities and growing our businesses. 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

Here are highlights from across the company:

In our Communications business, Mobility had another solid quarter, growing wireless service revenues 2.9% and adding postpaid and prepaid phone customers. Entertainment Group got off to a good start in stabilizing EBITDA for the year. In fact, we grew it nearly 7%, led by broadband revenue growth of more than 8% and good expense control. Our FirstNet build is ahead of schedule and more than halfway done with its coverage commitment. Continued investments in FirstNet, 5G and fiber are driving our network leadership. We have 5G in parts of 19 cities today and are on track to have it nationwide by next year. And our AT&T Fiber network now surpasses 20 million customer and business locations.

WarnerMedia reported another solid quarter with revenue growth of more than 3% and strong operating income gains of nearly 12%, on a pro forma basis. Warner Bros. reported strong theatrical and television revenue growth. Turner grew its subscription revenue, helping offset declines in ad revenues. HBO’s operating income increased during the quarter. And a record 17.4 million people tuned in to the premiere of “Game of Thrones’” final season.

Our Latin America revenues were pressured by foreign exchange rates, though we added 93,000 wireless net adds in Mexico. And Xandr grew revenues more than 26%, including AppNexus.

Thank you for all you’ve done to contribute to our first-quarter success. Let’s keep after it and continue executing against our 2019 priorities.

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

¹ Based on GWS OneScore Sept. 2018.
² Based on analysis by Ookla^® of Speedtest Intelligence^® data average download speeds for Q1 2019.

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AT&T Inc. Key Financial Results

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