AT&T (NYSE: T) reported solid progress in the third quarter on its two strategic initiatives – 5G and fiber. Its 5G mid-band coverage, mainly in C-band, now extends to 100 million people. The company expects to cover 130 million POPs by year-end 2022. That figure is nearly double the expectations it had at the beginning of the year. AT&T grew its wireless postpaid and prepaid subscriber base to 102.8 million, up almost 4 percent from 3Q21, with nearly 964,000 postpaid net adds in the quarter, bringing year-to-date net additions in 2021 to three million. The company also reported 102 million connected devices making it the largest IoT service provider in the country.
Wireless service revenues for the quarter grew 5.6 percent YoY to $15.3 billion while wireless EBITDA increased to $8.5 billion, up 5.5 percent from 3Q21. The company said the 3Q22 marked its highest wireless service revenue growth year-over-year in more than a decade, and now expects to achieve 2022 wireless service revenue growth at the upper end of the 4.5 to 5 percent range. Continue Reading |
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