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dallas, January 4, 2023 /PRNewswire/ — Pascal De RocheCFO, AT&T* company (NYSE ticker symbol: T), speaking at the Citi Media and Entertainment Conference today, gave an update to shareholders.
Desroches makes the following points:
The company continues to focus on driving solid growth in 5G and fiber services, driven by continued high demand for connectivity. While the company doesn’t expect the wireless industry to grow at the levels seen in 2021 or the first half of 2022, Desroches said demand remains healthy. Despite opting not to run promotions like its peers during the recent holiday sales season, the company continues to see steady levels of demand through its consistent approach to listings.
Looking ahead to 2023, Desroches He said he expects the company to continue to focus on developing client relationships in a disciplined manner, aggressively reducing costs and maintaining deliberate capital allocation. He said 2022 and 2023 are expected to be peak years for capital investment as companies continue to invest in 5G and fiber optics. exist&Ton It remains focused on achieving its net debt-adjusted EBITDA target of 2.5 times and expects to use post-dividend cash to reduce debt until then.
AT&T It plans to provide detailed 2023 guidance when it reports earnings later this month. rock said he expects free cash flow growth in 2023 to be supported by wireless revenue growth from a larger base of postpaid phones ARPU value; growth of fiber optic subscribers, ARPU value and revenues; and the benefit of ongoing cost transformation initiatives, which are expected to increasingly support the company’s profitability.Expected offsets to these trends include expected higher cash taxes and lower cash distributions live tv.
Desroches reiterated AT&T’s commitment to its goal of reaching more than 30 million fiber locations by the end of 2025, including commercial locations. As of the end of the third quarter of 2022, the company has the capacity to provide fiber optic services to 18.5 million consumer locations and approximately 3 million enterprise customer locations. The company’s recently announced Gigapower joint venture gives it the opportunity to expand fiber coverage with an initial 1.5 million incremental locations, and provides additional flexibility to further expand its off-network footprint over time.
*About AT&T
We help connect more than 100 million American families, friends and neighbors, and nearly 2.5 million businesses, to greater possibilities. From the first telephone more than 140 years ago to today’s 5G wireless and multi-gigabit Internet products, we @ATT are constantly innovating to improve lives. For more information on AT&T Inc. (NYSE ticker symbol: T), please visit we are at about.att.com. Investors can learn more investors.att.com.
Cautionary Statement Regarding Forward-Looking Statements
Information in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that could affect future results is included in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise the statements contained in this press release based on new or other information.
This press release may contain certain non-GAAP financial measures. Reconciliations between non-GAAP financial measures and GAAP financial measures are available on the Company’s website at: https://investors.att.com.
© 2023 AT&T Intellectual Property. all rights reserved. AT&T and the globe logo are registered trademarks of AT&T Intellectual Property.
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