2024

Billion

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<p class="has-drop-cap">AT&amp;T Inc. (NYSE: T) has reported its <a href="https://www.prnewswire.com/news-releases/att-delivers-strong-first-quarter-cash-from-operations-and-free-cash-flow-powered-by-5g-and-fiber-growth-302125968.html" target="_blank" aria-label="first-quarter results for 2024 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">first-quarter results for 2024</a>, showcasing a robust performance powered by its 5G and fiber growth initiatives. The telecommunications giant announced revenues of $30.0 billion and an adjusted EPS of $0.55, exceeding the EPS expectations of $0.5323. Operating income stood at $5.8 billion, with net income at $3.8 billion.</p> 
<p>The company also highlighted a significant year-over-year increase in cash from operating activities, which rose by $0.9 billion to $7.5 billion. Capital expenditures were reported at $3.8 billion, leading to a free cash flow of $3.1 billion, showing a remarkable increase of $2.1 billion from the previous year. These figures underscore AT&amp;T’s solid financial health and its ability to generate substantial cash flows, attributing the success to its strategic investments in 5G and fiber broadband services.</p> 
<h3 id="att-s-q1-2024-performance">AT&amp;T’s Q1 2024 Performance</h3> 
<p>The company’s performance this quarter has demonstrated strong growth in its core business areas and highlighted the effectiveness of its investment-led strategy. <br><br>AT&amp;T reported 349,000 postpaid phone net additions and a record-low first-quarter postpaid phone churn of 0.72%, indicating strong customer retention and acquisition strategies. <br><br>Additionally, the company saw a significant increase in Mobility service revenues, which rose by 3.3% year over year to $16.0 billion, and Consumer broadband revenues, which grew by 7.7% to $2.7 billion. These results reflect AT&amp;T’s continued focus on expanding its 5G and fiber network coverage, which now spans over 27.1 million consumer and business locations.</p> 
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<h3 id="att-beats-eps-expectations-in-q1-falls-short-on-revenue-slightly">AT&amp;T Beats EPS Expectations in Q1, Falls Short on Revenue Slightly</h3> 
<p>Comparing the current performance against expectations, AT&amp;T has surpassed the forecasted EPS of $0.5323 by reporting an <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">adjusted EPS</a> of $0.55. <br><br>However, the revenue fell slightly short of the expected $30.53 billion, coming in at $30.0 billion. Despite this minor shortfall in revenue expectations, the company’s overall financial health remains strong, with significant improvements in cash flow and sustained growth in its Mobility and broadband services. <br><br>The increased profitability and cash flow generation highlight AT&amp;T’s successful execution of its strategic priorities, particularly its investments in 5G and fiber technologies, which continue to drive customer growth and retention.</p> 
<h3 id="att-anticipates-adjusted-ebitda-growth-in-the-3-range-for-full-year-2024">AT&amp;T Anticipates Adjusted EBITDA Growth in the 3% Range for Full Year 2024</h3> 
<p>AT&amp;T has reiterated its full-year guidance, expressing confidence in its continued growth trajectory. The company expects wireless service revenue growth in the 3% range and broadband revenue growth of 7%+. <br><br>Additionally, AT&amp;T anticipates adjusted EBITDA growth in the 3% range and plans to invest $21-$22 billion in capital expenditures to expand further and enhance its network. For free cash flow, the company projects a range of $17-$18 billion, with adjusted EPS expected to be in the $2.15-$2.25 range. </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/att-inc-reports-30-billion-in-revenue-and-0-55-eps-for-q1-2024/">AT&amp;T Inc. Reports $30 Billion in Revenue and $0.55 EPS for Q1 2024</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

AT&T Inc. Reports $30 Billion in Revenue and $0.55 EPS for Q1 2024

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