T AT&T Inc.

AT&T Declares Quarterly Dividend

The board of directors of AT&T Inc. (NYSE: T) today declared a quarterly dividend of $0.50 a share on the company’s common shares. The dividend is payable on May 1, 2018, to stockholders of record at the close of business on April 10, 2018.

*About AT&T

AT&T Inc. (NYSE:T) is a holding company. AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T Inc. is available at about.att.com.

© 2018 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

EN
30/03/2018

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Reports on AT&T Inc.

Jonathan Chaplin
  • Jonathan Chaplin

AT&T Model Update

What's new: This note covers changes to the model after results. We increased postpaid phone adds, FWA adds, Consolidated EBITDA, and FCF slightly. We also lowered fiber adds slightly. Consensus EBITDA likely increases, with a more valuable business mix. No change to thesis. Neutral: $21 (+30% total return).

Jonathan Chaplin
  • Jonathan Chaplin

AT&T: quick thoughts following the call

What’s new: we start with a diatribe focused on the improving quality of the business, of management’s decisions, and of disclosure (with small suggestions for further improvements). We then touch on AT&T’s FWA strategy and its implications for others, the impact of Gigapower on fiber trends and the prospect of seeing other Broadband companies pursuing a similar strategy, what we learned about broadband market growth (which is less than we had hoped), what we learned about wireless market growth...

Jonathan Chaplin
  • Jonathan Chaplin

AT&T 1Q24 Quick Take

What’s new: Service revenue was almost in-line, EBITDA beat, but EPS was in-line, and FCF beat (mostly timing). By segment: wireless service revenue was a hair soft, but EBITDA beat handily. Phone adds beat on much lower-than-expected churn. Consumer Wireline revenue was roughly in-line while EBITDA beat handily. Fiber adds were in-line (preannounced), while Internet Air adds were well ahead of estimates. Business Wireline missed on service revenue and EBITDA.

James Ratzer
  • James Ratzer

FWA: Should wireline operators be worried?

The Vodafone-Three UK proposed merger is now moving to a Phase 2 enquiry and one of their major arguments for the merger focuses on offering increased FWA services.

Blair Levin
  • Blair Levin

NSR Policy: The DoD’s Spectrum Game

This week we cover spectrum issues, with a particular focus on the implications of last week’s Department of Defense (DoD) report on the feasibility of sharing the 3.1 – 3.45GHz band with wireless carriers. Our New Street colleagues published a note describing the report and its implications for DISH/SATS, T, VZ, and TMUS.

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