Speaking at the Goldman Sachs Communacopia + Technology Conference, AT&T CEO John Stankey provided the following updates:
- Stankey is confident in the company’s full-year guidance., which includes free cash flow of better than $16 billion. As previously indicated, the primary factors supporting the company’s cash outlook are expectations for full-year 2023 adjusted EBITDA growth of 3-plus percent, largely in-line capital investment and lower handset payments for full-year 2023 compared to 2022.
- AT&T has added 8 million+ postpaid phones and 3 million+ fiber subscribers since July 2020. In the second quarter of 2023, AT&T grew wireless service revenue by $2 billion+ compared to the second quarter 2020 and generated record mobility 2Q EBITDA.
- AT&T expects steady wireless subscriber growth in the third quarter as a result of healthy subscriber demand; a rational competitive environment; and positive subscriber porting trends with no material change in porting ratios, including to cable.
- In fiber, AT&T expects continued solid subscriber growth in the third quarter even with lower household move activity
- AT&T now passes 25 million+ consumer and business fiber locations and remains committed to its goal to pass 30+ million consumer and business customer locations with fiber in its traditional service area by the end of 2025.
