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AT&T CFO Updates Shareholders

Pascal Desroches, chief financial officer of AT&T Inc.* (NYSE:T), spoke today at the Barclays Global Technology, Media and Telecommunications Conference where he provided an update to shareholders. He made the following points:

  • The company is delivering on its objective to grow customer relationships across wireless, fiber and HBO Max.
  • AT&T’s wireless business has good momentum, is taking share and is growing revenues, subscribers and profitability. The company is confident that its strong wireless performance will be sustainable. 
  • While AT&T’s forecasts do not factor in expectations of current robust wireless industry trends to continue, the company does not see signs of any near-term slowdown in demand levels.    
  • The company continues to increase penetration across its fiber footprint and is on track to add at least 1 million fiber subscribers for the fourth consecutive year. Increases in fiber subscribers helped AT&T reach an inflection point in the third quarter of 2021, with broadband revenue growth outpacing declines in legacy revenues. In the third quarter of 2021, fiber subscribers, revenues and profits grew in AT&T’s consumer wireline business, and those trends are expected to continue in 2022.