AT&T Non-GAAP EPS of $0.60 beats by $0.03, revenue of $30.2B misses by $250M
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Contributor since / Followers
Contributor since / Followers
1 month ago
- AT&T press release (NYSE:T): Q3 Non-GAAP EPS of $0.60 beats by $0.03.
- Revenue of $30.2B (-0.5% Y/Y) misses by $250M.
- Shares -4% PM.
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Third-Quarter Highlights
- 403,000 postpaid phone net adds with an expected industry-leading postpaid phone churn of 0.78%
- Mobility service revenues of $16.5 billion, up 4.0% year over year
- 226,000 AT&T Fiber net adds; 200,000+ net adds for 19 consecutive quarters
- Consumer broadband revenues of $2.8 billion, up 6.4% year over year
- 28.3 million consumer and business locations passed with fiber
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2024 OutlookFor 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 vs $2.20 consensus
- 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.