AT&T COO Updates Shareholders on the Morgan Stanley Expertise, Media and Telecom Convention
DALLAS, March 8, 2023 /PRNewswire/ — Jeff McElfresh, chief working officer, AT&T* Inc., (NYSE:T) spoke at this time on the Morgan Stanley Expertise, Media and Telecom Convention the place he supplied an replace to shareholders. McElfresh made the next factors:
- The corporate continues to prioritize rising buyer relationships in a disciplined method whereas increasing and enhancing its 5G and fiber networks. McElfresh added that the corporate continues to draw clients due to its constant go-to-market strategy, improved distribution efforts and success in focusing on subsegments of the market the place AT&T traditionally has underperformed. He additionally indicated that wi-fi demand ranges are largely in-line with latest traits however that the corporate doesn’t anticipate wi-fi trade progress to duplicate ranges from 2021 and the primary half of 2022.
- McElfresh famous that whereas AT&T just isn’t proof against latest traits within the housing markets, it continues to see regular fiber penetration charges whereas prudently increasing the corporate’s fiber footprint. AT&T stays on observe to move 30 million-plus fiber areas by the tip of 2025, together with roughly 25 million client areas and 5 million enterprise areas. The corporate ended 2022 with about 24 million fiber areas handed, together with 4 million enterprise areas. Of these, greater than 22 million, together with 3 million enterprise areas, had been sellable.
- McElfresh acknowledged the corporate is dedicated to its disciplined capital allocation strategy and expects capital funding to peak in 2022 and 2023 as the corporate progresses on its technique of changing into a really scaled 5G and fiber supplier with proprietor’s economics. The corporate now reaches greater than 290 million individuals with nationwide 5G and stays on the right track to cowl greater than 200 million individuals with mid-band 5G by the tip of 2023.
*About AT&T
We assist greater than 100 million U.S. households, pals and neighbors, plus almost 2.5 million companies, hook up with larger risk. From the primary telephone name 140+ years in the past to our 5G wi-fi and multi-gig web choices at this time, we @ATT innovate to enhance lives. For extra details about AT&T Inc. (NYSE:T), please go to us at about.att.com. Traders can be taught extra at traders.att.com.
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