AT&T CFO Updates Shareholders

Pascal Desroches, chief financial officer of AT&T Inc.* (NYSE:T), spoke today at the Barclays Global Technology, Media and Telecommunications Conference where he provided an update to shareholders. He made the following points:

• The company is delivering on its objective to grow customer relationships across wireless, fiber and HBO Max.
• AT&T’s wireless business has good momentum, is taking share and is growing revenues, subscribers and profitability. The company is confident that its strong wireless performance will be sustainable.
• While AT&T’s forecasts do not factor in expectations of current robust wireless industry trends to continue, the company does not see signs of any near-term slowdown in demand levels.
• The company continues to increase penetration across its fiber footprint and is on track to add at least 1 million fiber subscribers for the fourth consecutive year. Increases in fiber subscribers helped AT&T reach an inflection point in the third quarter of 2021, with broadband revenue growth outpacing declines in legacy revenues. In the third quarter of 2021, fiber subscribers, revenues and profits grew in AT&T’s consumer wireline business, and those trends are expected to continue in 2022.

*About AT&T

AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across mobile and broadband. Plus, it serves high-speed, highly secure connectivity and smart solutions to nearly 3 million business customers. WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content to global audiences through its consumer brands, including: HBO, HBO Max, Warner Bros., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim and Turner Classic Movies. Xandr, now part of WarnerMedia, provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its platform. AT&T Latin America provides wireless services to consumers and businesses in Mexico.

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 is available at about.att.com. © 2021 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.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T’s filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.

This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company’s website at https://investors.att.com.

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