AT&T grows customer base and expands midband 5G
AT&T grows customer base and expands midband 5G
AT&T Continues to Impress with Strong Subscriber Growth
AT&T, the Dallas-based telecom company, has once again demonstrated its remarkable success by adding a significant number of phone and broadband customers in the second quarter of the year. This impressive growth has solidified AT&T’s position as a leader in the industry and a dependable source of revenue.
During this quarter, AT&T logged a staggering 326,000 postpaid phone net additions. This metric is widely used in the industry to measure success, and the significant increase in postpaid phone net additions over the last three years is a testament to AT&T’s relentless pursuit of growth and customer satisfaction. In fact, AT&T CEO John Stankey proudly stated during the earnings call that the company has achieved over 8.3 million postpaid phone net additions in the past three years, a notable increase from the previous three years.
Not stopping there, AT&T also reported 123,000 prepaid phone net additions, with much of the credit going to their Cricket brand. This demonstrates AT&T’s ability to cater to a wide range of customer needs and preferences, further cementing their position as a market leader.
One area where AT&T has truly excelled is in the deployment of its faster midband 5G spectrum. With its coverage now reaching 175 million people, up from 160 million in the previous quarter, AT&T is well on track to achieve its goal of reaching 200 million people by the end of the year. Additionally, AT&T’s nationwide 5G network, which includes slower low-band 5G spectrum, already covers an impressive 290 million Americans. This extensive network coverage underscores AT&T’s commitment to providing cutting-edge technology to as many people as possible.
During the earnings call, Stankey also took a moment to address the use of lead-wrapped telecom cables, which The Wall Street Journal recently highlighted. While the industry phased out the placement of new lead-wrapped cables in the 1950s, some are still in use today for essential customer voice and data services. Stankey emphasized that independent experts and scientific research have found no evidence to suggest that these cables pose a public health risk. Nevertheless, AT&T is actively collaborating with the Environmental Protection Agency to assess the situation and has expanded testing for workers involved with lead-wrapped cables. Due to ongoing litigation in certain areas, Stankey was limited in providing further details on the matter.
In addition to its remarkable achievements in the mobile phone sector, AT&T has also seen remarkable success in the broadband market. During the second quarter, the company added an impressive 251,000 net fiber internet customers. This marks the 14th consecutive quarter in which AT&T has added 200,000 customers or more. This consistent growth is a testament to AT&T’s commitment to expanding its fiber internet services and providing reliable, high-speed internet to more customers. Currently, AT&T serves over 20 million locations, including consumer homes, with fiber internet, and has plans to extend its service to reach 30 million locations by 2025.
From a financial perspective, AT&T is also performing exceptionally well. The company reported a revenue of $29.9 billion for the quarter, a notable year-over-year increase of 0.9%. This revenue translated to an adjusted earning per share (EPS) of 63 cents, surpassing the 54 cents estimated by analysts polled by Yahoo Finance. AT&T’s strong financial performance further reinforces its position as a leader in the industry.
AT&T’s ongoing success is a testament to its commitment to innovation, customer satisfaction, and technological advancement. With its impressive subscriber growth, expanding 5G network, and strong financial performance, it is evident that AT&T’s dedication to providing reliable and cutting-edge services continues to pay off. As the company continues to invest in its infrastructure and expand its offerings, customers can undoubtedly look forward to an even more exciting future with AT&T.
