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AT&T Earnings Email
This morning we announced our 1st quarter earnings.
You can read our news release here.
As expected, we saw the economic impact of COVID‐19 on key 1st‐quarter financial metrics
such as earnings per share, revenues and cash flows.
But our core businesses are solid and generating good cash flow, and our balance sheet
is strong.
It is a great responsibility to be an essential business that society counts on during
times like these. And I am extremely proud of your dedication and commitment to be there
for our customers and communities.
Our network continues to be remarkable – the best and fastest in the U.S.1 And it continues to perform very well amid
unprecedented volumes of voice calls, texts and video streaming.
FirstNet is also fulfilling its purpose and its promise – providing critical
connectivity to our first responders when they need it most. These first responders are
the heroes and it’s an honor to serve them.
Our CNN colleagues are working tirelessly to report critical news and the WarnerMedia
team is getting ready to launch HBO Max May 27.
COVID-19 Implications
It’s impossible to overstate the impact of COVID-19 on society. It
will likely have long-lasting implications for how we gather, work,
travel and interact.
Its economic impact has been swift, and there is no consensus on how
long the downturn lasts.
But AT&T has been through many crises, and each time we’ve emerged
in a stronger position.
Moving Forward
We’re sizing our operations to reflect the new level of economic
activity, and we’re leaning into our cost and efficiency
initiatives. We’ve also adjusted our capital allocation plans – and
have suspended all share retirements.
As a result, we will continue to invest in critical growth areas
like 5G, broadband and HBO Max. We remain committed to paying our
dividend that our shareholders rely on. And we’ll continue to pay
down debt.
Please stay safe and take good care of yourselves, your families,
our customers and one another. And thank you again for your
extraordinary efforts in these extraordinary times.
1America’s
Best Network: Based on GWS OneScore Sept. 2019. Nation’s Fastest Network: Based on
analysis by Ookla® of Speedtest
Intelligence® data median download speeds
for Q1 2020. Ookla trademarks used under license and reprinted with
permission.
