Citing strong, sustained momentum in customer additions across its growing 5G wireless and fiber networks, AT&T reported Q3 2022 revenue of $30.0 billion versus $31.3 billion in the year-ago quarter, down 4.1% reflecting the impact of the U.S. Video separation in July 2021. Excluding the impact of U.S. Video, operating revenues for standalone AT&T were up 3.1%, from $29.1 billion in the year-ago quarter. This increase primarily reflects higher Mobility revenues, and to a lesser extent Consumer Wireline and Mexico, partly offset by lower Business Wireline revenues.
“We’re investing at record levels to enhance our 5G and fiber connectivity and to deliver the best experience available in the market,” said John Stankey, AT&T CEO. “Our results show our strategy is resonating with customers as we continue to see robust levels of postpaid phone net adds and approach 1 million AT&T Fiber net adds for the year."
Some highlights:
- Communications revenues were $29.1 billion, up 3.2% year over year primarily due to increases in Mobility and, to a lesser extent, Consumer Wireline, which more than offset a decline in Business Wireline.
- Mobility revenues were up 6.0% year over year to $20.3 billion due to higher service and equipment revenues. Service revenues were $15.3 billion, up 5.6% year over year, primarily driven by subscriber and postpaid ARPU growth
- Internet of Things (IoT) connections, including wholesale, have now reached more than 100 million.
- FirstNet connections reached approximately 4 million across more than 23,000 agencies.
- Business Wireline revenues were $5.7 billion, down 4.5% year over year due to lower demand for legacy voice and data services and product simplification, partly offset by growth in connectivity services.
- 708,000 postpaid phone net adds; 2.2 million-plus through the third quarter, expected to be industry best
- 338,000 AT&T Fiber net adds, second-best quarter ever; 11 straight quarters with more than 200,000 net adds.
https://about.att.com/story/2022/q3-earnings.html
