5G, fiber continue to drive the telco’s results in Q1
AT&T beat expectations on its customer growth, with revenues off just slightly from the same period last year as CEO John Stankey continued to emphasize the telco’s focus on consistent, profitable growth driven by 5G and fiber.
Consolidated company revenues were $30 billion for the first quarter of 2024, compared to $30.1 billion in the year-ago period. CFO Pascal Desroches said that was due to a decline in “low margin mobility equipment revenues and business wireline revenues” which offset growth in high-margin wireless service revenues and fiber revenues. The higher-margin is where AT&T has made clear that its focus is, with Stankey saying on the quarterly call: “We’re growing the right way by adding valuable long-term wireless and broadband subscribers.”
