CLAIM #55224 · AT&T Inc. (T) · 2024Q3 earnings call · Oct 23, 2024 · due Dec 31, 2024
“Our Mobility outlook also continues to anticipate higher fourth quarter promotional activity levels consistent with seasonal trends.”
Pascal Desroches · CFO
In context
“riven by higher ARPU on legacy plans. As expected, service revenue growth was partially offset by lower equipment revenues with a postpaid upgrade rate of 3.5%, which was down from 3.9% last year. In prepaid, our Cricket brand continues to display remarkable consistency with positive phone net adds for 40 consecutive quarters or a decade straight. For the year, we continue to expect Mobility service revenue growth in the 3% range. Mobility EBITDA of $9.5 billion grew 6.7% or by about $600 million year-over-year. On a year-to-date basis, Mobility EBITDA grew 6.3%, reflecting nearly 100% of service revenue growth flowing through to EBITDA. The strong performance puts us on pace to achieve our target of mobility EBITDA growth in the higher end of the mid-single digit range for the full year. Our Mobility outlook also continues to anticipate higher fourth quarter promotional activity levels consistent with seasonal trends. Now let's move to Consumer Wireline results on Slide 10. The sustainable strength of fiber is driving Consumer Wireline growth and yielding strong returns. In the quarter, we added 28,000 total broadband subscribers, which includes 226,000 AT&T fiber net adds. Our fiber subscriber gains also reflect an estimated 50,000 fewer net adds from the work stoppage and storms in the Southeast. It is clear that where we do have AT&T Fiber, we win. We now passed more than 28 million consumer and business locations with fiber and remain on track to pass 30 million plus fiber locations by the end of 2025. As we've stated before, the better-than-expected returns we're seeing on our fiber investment, potentially expand our opportunity to go beyond our initial build target by roughly 10 million to 15 mil”
Verify independently
SEC filings for T ↗ · Claim quote is verbatim from the 2024Q3 earnings call.