AT&T said in its earnings report it added 691,000 monthly phone subscribers during the first quarter of 2022.
AT&T said Capex was $4.7 billion in the quarter. Capital investment totaled $6.3 billion, which includes $1.6 billion of cash payments for vendor financing. The main focus of AT&T was in building 5G network and fiber.
AT&T, under CEO John Stankey, is trying to refocus on its original business of providing internet and phone services after unwinding a years-long effort to become a media and entertainment company.
Communications
Mobility:
691,000 postpaid phone net adds
965,000 postpaid net adds
113,000 prepaid phone net adds
Postpaid phone churn of 0.79 percent
Consumer Wireline:
289,000 AT&T Fiber net adds; penetration of 37 percent, up about 200-basis points
Broadband revenues up 6.8 percent, due to fiber revenue growth of 24.7 percent
Broadband ARPU growth of 5.9 percent
AT&T’s Communications revenues rose 2.5 percent to $28.9 billion in Q1 due to 5 percent increase in Mobility at $20.1 billion and 2 percent increase in Consumer Wireline revenue at $3.2 billion. Broadband revenues increased 6.8 percent due to fiber growth of 24.7 percent, partially offset by non-fiber revenue declines of 5.3 percent.
AT&T CEO John Stankey said: “We had our best first quarter for postpaid phone net adds in more than a decade and our fiber broadband net adds remain consistently strong.”
“AT&T has entered a new era, meeting this opportunistic moment from a position of flexibility and strength thanks to our evolving networks, enhanced customer experience, growing 5G and fiber customer base and a much stronger balance sheet. We continue to make good consistent progress on our journey to becoming America’s best broadband provider.”
