As Randall points out in his 4Q letter, we met all our commitments for 2019. That’s a tribute to your great work throughout the year, capped off by a very solid 4Q.

Our highlight reel for the year includes adding more than 1M new, high-value customers on our industry-leading fiber product. We also continued our strong execution in wireless, with nearly 1M phone net adds in 2019. And from 4Q into this year, we’ve launched 5G to 50M people. This is the future of wireless, and we’re building it on America’s best and also fastest network.¹

Other 4Q accomplishments give us momentum to accelerate growth in the 4 drivers of our business:

• Wireless generates about half our revenue. So it’s good news that both service and overall wireless revenue were up year over year. In 4Q, we added the most postpaid phones since 4Q 2017 and surpassed 1M FirstNet connections.
• Broadband. In 4Q, we gained 191K fiber customers. These are valuable subscribers, likely to bundle video with their high-speed broadband. Our fiber footprint has expanded to ~14M customer locations, and this year we intend to sell aggressively into it.
• Entertainment. We kept a big promise, keeping EBITDA flat for the year. We also shared our video strategy, as Thaddeus Arroyo and I discuss here. Our new lead product is AT&T TV, set to roll out nationwide this quarter.
• Business Wireline. Congratulations are in order for another great job holding wireline margins to generate $2.5B in 4Q EBITDA.

Getting faster and more efficient is just as important as accelerating growth. So in 4Q, we began taking steps to simplify what we offer and transform how we operate. This is an end-to-end process of assessing and benchmarking everything we do.

We’re after improvement now, not perfection later. As good ideas emerge, we’re implementing them. One is our new retail VPGM (Vice President-General Manager) structure. This recognizes that local markets are different – that you can’t approach New York City and Kansas City the same way. So in each of their markets, a VPGM now calls the shots for sales and service. They’re closest to the customers. They know better than anyone else what works. They’re now accountable for getting local results. And leadership is committed to giving them the tools and support they need to win in their markets.

We’ll talk more about our transformation agenda at our All Employee Town Hall on February 20.

This year, we’ll continue to make changes to get faster and more focused. Doing things differently is necessary – but not always comfortable.

As we take on tough new challenges, we can’t afford to get distracted. So here’s my main ask for 2020: Keep customers at the center of everything we do. They’re why we’re here.

Thanks again for all you do for our business and each other. We have the right plan. Let’s flex our muscles and win this year.