AT&T Non-GAAP EPS of $0.57 in-line, revenue of $29.8B misses by $180M

AT&T press release (NYSE:T): Q2 Non-GAAP EPS of $0.57 in-line.
Revenue of $29.8B (-0.4% Y/Y) misses by $180M.
This was due to lower Business Wireline service revenues and declines in Mobility equipment revenues driven by lower sales volumes. These decreases were mostly offset by higher Mobility service, Consumer Wireline and Mexico revenues.
419,000 postpaid phone net adds with an expected industry-leading postpaid phone churn of 0.70%
Mobility service revenues of $16.3 billion, up 3.4% year over year
239,000 AT&T Fiber net adds; 200,000+ net adds for 18 consecutive quarters
Consumer broadband revenues of $2.7 billion, up 7.0% year over year
27.8 million consumer and business locations passed with fiber
For the full year, AT&T reiterates guidance of:
- Wireless service revenue growth in the 3% range.
- Broadband revenue growth of 7%+.
- Adjusted EBITDA* growth in the 3% range.
- Capital investment* in the $21-$22 billion range.
- Free cash flow* in the $17-$18 billion range.
- Adjusted EPS* in the $2.15-$2.25 range.
- In 2025, the company expects to deliver Adjusted EPS* growth.
- The company continues to expect to achieve net debt-to-adjusted EBITDA* in the 2.5x range in the first half of 2025.
- On track to pass 30 million-plus consumer and business locations with fiber by the end of 2025.

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