AT&T today announced the 1st quarter 2023 earnings with strong 5G and Fiber internet numbers. AT&T also announced that it should be able to expand its fiber internet service to over 30 million fiber locations by the end of 2025 compared to the 19.7 million residential and 3 million businesses locations it currently has.
“Ability to serve fiber to 19.7 million consumer and more than 3 million business
customer locations in more than 100 U.S. metro areas; remain on track to
pass 30 million fiber locations by the end of 2025″ AT&T said in its 1st quarter 2023 results.
In the 1st quarter of 2023, AT&T 5G added 542,000 new postpaid wireless customers. AT&T Fiber added 272,000 new customers. In total, AT&T saw mobility service revenues up 5.2% and broadband revenues up 7.3%.
“Our teams take pride in connecting more people to greater possibility through 5G and fiber,” said John Stankey, AT&T CEO. “We’re winning thanks to a proven and sustainable playbook that centers on simple, customer-centric experiences. As a result, we’re adding high-value customers, and when they choose AT&T, they stay with us. The work we’re doing today is establishing a foundation for durable, long-term growth, and we remain confident in our full-year guidance.”
AT&T even reported about $500 million in equity from net income of affiliates, primarily from its DIRECTV investment. AT&T no longer runs DIRECTV but still is the primary owner. AT&T no longer releases subscriber numbers or projections about DIRECTV after it spun off DIRECTV into its own company.
AT&T’s Fiber Revenue grew 30.7% as it works to move customers off of old DSL service to Fiber Internet. AT&T
AT&T spent $4.3 billion in capital investments in the 1st quarter of 2023 and ended the quarter with $1 billion in free cash flow. AT&T had operating expenses of $24.1 billion, slightly down compared to $24.2 billion in 2022 during the same period.