AT&T Q1 Revenue Up 2.9% to $31.5B with 806K Subscriber Adds
AT&T's Q1 revenue rose 2.9% to $31.5 billion, beating the $31.25 billion forecast, while adjusted EPS climbed to $0.57 from $0.51. The company added 294,000 mobile and 512,000 residential internet customers, with 45% of home internet subscribers also taking wireless service.
1. Q1 Financial Performance
AT&T reported first-quarter revenue of $31.5 billion, a 2.9% increase over last year and above the $31.25 billion level, while adjusted earnings per share rose to $0.57 from $0.51, reflecting continued margin improvement as the company pursues its bundling strategy.
2. Subscriber Growth and Convergence Strategy
The company added 294,000 wireless subscribers and 512,000 residential internet customers, with nearly 45% of home internet users also subscribing to wireless service, illustrating the success of its convergence play and potential for improved retention and lifetime value.
3. Strategic Outlook and Efficiency Initiatives
AT&T separated legacy copper operations from its advanced connectivity segment, targets 40 million fiber locations by year-end, and expects to reach 60 million by decade's end, while pursuing 70% lower energy use and 35% reduced maintenance costs through network modernization.