AT&T Latin America employees,
As you heard from our Chairman and CEO Randall Stephenson, AT&T reported its first‐quarter earnings today. Before we discuss our quarterly performance, I want to
heartfelt thanks to each one of you for your resilience, agility and perseverance as we
work together to care for one another, our customers and our communities during this
It’s been anything but business as usual the last several weeks. I know the pandemic has
had a profound impact on your personal and professional lives, and I continue to be
amazed at the work all of you are doing. You have my full support, and I – along
your leaders – continue to work every day to help ensure you are healthy, safe and
equipped to do your jobs.
This is more critical now than ever because the work we do is essential. It’s keeping
our customers connected to one another – and the world – as we navigate
unprecedented times together.
Given all this and despite strong FX headwinds across the region, our performance for
the quarter in AT&T Latin America was solid.
In Mexico, we continued to deliver on our business objectives with revenues up 8%
year‐over‐year. EBITDA also improved by $63M
year‐over‐year. In Vrio, we maintained
position as the #1 Pay TV provider in South America for the fifth consecutive
We delivered more than U.S. $100 million in EBITDA. And, while we reported a modest
subscriber loss, subscriber performance was better than expected.
We also delivered on some important milestones. In Brazil, ANATEL confirmed that the
AT&T merger complies with the Audiovisual Services (SEAC) Law. And, building on the
strong work of the Vrio team, we launched DIRECTV GO in Mexico earlier this month.
While we don’t know how long we will be operating in this difficult environment, I know
this team is more than up to the challenge. You continue to prove that every day. I am
extremely proud of how we have worked together… across countries… across the enterprise…
and in new ways to "Be There" for our families, our teams and our customers.
For now, please keep you and your families safe and healthy. And pace yourself for the
journey ahead. We are in this together.