AT&T Model Update
This note overs changes to the model. We lowered postpaid phone adds a touch but increased EBITDA and FCF a touch. In our note following the call, we covered surprising comments on fiber wholesale, lowered expectations for Internet Air, and the implications of both for the industry. We covered results and comparison of trends with Verizon in a separate note.AT&T is a holding company. Through its subsidiaries, the company is a provider of telecommunications, media and technology services. The company's Communications segment provides wireless and wireline telecom, video and broadband services. The company's WarnerMedia segment includes media and entertainment businesses that principally develop, produce and distribute feature films, television content, and other content globally; and operate digital media properties. The company's Latin America segment provides entertainment services in Latin America and wireless services in Mexico. The company's XANDR segment relies on using data from its customer relationships, to develop digital and video advertising that is relevant to consumers.
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