CLAIM #55180 · AT&T Inc. (T) · 2024Q2 earnings call · Jul 24, 2024 · due Dec 31, 2024
“As John noted during his remarks, our Mobility outlook anticipates higher activity levels in the back half, consistent with seasonal trends.”
Pascal Desroches · CFO
In context
“es by 3.4% driven by strong execution and our balanced go-to-market strategy. Postpaid phone ARPU was $56.42, up 1.4% year-over-year, largely driven by higher ARPU on legacy plan. As expected, service revenue growth was partially offset by lower equipment revenues with a postpaid upgrade rate of 2.9%, which was down slightly from 3.1% last year. For the year, we continue to expect modest postpaid phone ARPU growth and Mobility service revenue growth in the 3% range. Mobility EBITDA of $9.2 billion grew 5.3%, or by more than $450 million year-over-year as we converted over 85% of our service revenue growth into EBITDA. During the first half of 2024, Mobility EBITDA grew 6.1%, and we continue to expect Mobility EBITDA growth in the higher end of the mid-single-digit range for the full year. As John noted during his remarks, our Mobility outlook anticipates higher activity levels in the back half, consistent with seasonal trends. In particular, we anticipate higher marketing spend in the third quarter compared to last year. We also expect to see greater benefits from our announced pricing actions in 4Q versus 3Q. Based on our strong subscriber and EBITDA growth through the first half of the year, we believe our Mobility business is well-positioned to capitalize on a more dynamic wireless market in the back half while achieving our financial targets. Now, let's move to Consumer Wireline on Slide 9. Our growth in Consumer Wireline was once again led by fiber subscriber growth, which has consistently yielded strong returns. Overall, we added 52,000 total broadband subscribers in the quarter. This is the fourth consecutive quarter of positive broadband net gains and we expect this trend to continue. Where we have fibe”
Verify independently
SEC filings for T ↗ · Claim quote is verbatim from the 2024Q2 earnings call.