CLAIM #55143 · AT&T Inc. (T) · 2024Q1 earnings call · Apr 24, 2024 · due Dec 31, 2024
“We continue to expect wireless service revenue growth in the 3% range for the full year.”
Pascal Desroches · CFO
In context
“r is typically the high watermark for device payments and we expect payments to get progressively lower throughout the year. Capital investment for the quarter was $4.6 billion, down about $1.8 billion compared to the prior year. Capital expenditures were $3.8 billion, compared to $4.3 billion in the prior year. Now let's look at our mobility operating results on Slide 8. The wireless industry remains healthy and our mobility business continues to deliver strong results, driven by our consistent go-to market strategy and solid execution. For the quarter, we reported 349,000 postpaid phone net adds. We grew service revenue by 3.3%, which included the impact of customer credits. This was offset by lower equipment revenues with postpaid upgrade rate of 3%, which was down from 3.7% last year. We continue to expect wireless service revenue growth in the 3% range for the full year. Mobility EBITDA grew 7% or about $600 million year-over-year, which exceeded service revenue growth on a dollar basis. This demonstrates we're significantly improving operating leverage and highlights the efficiency of our consistent go-to market strategy, which has enabled us to take costs out of the business. We now expect our mobility EBITDA to grow in the higher end of the mid-single-digit range this year, driven by better-than-expected performance with business wireless customers and continued disciplined cost management. Our postpaid phone ARPU was $55.57. This was up nearly 1% year-over-year, largely driven by higher ARPU and legacy plans. For the year, we continue to expect modest postpaid phone ARPU growth. Now let's move to consumer wireline results on Slide 9. Our growth in con”
Verify independently
SEC filings for T ↗ · Claim quote is verbatim from the 2024Q1 earnings call.