TMCnet News
Randall Stephenson Provides AT&T Update at Goldman Sachs Communacopia ConferenceDALLAS, Sept. 12, 2018 /PRNewswire/ -- Randall Stephenson, AT&T* Inc. chairman and chief executive officer, spoke today at the 27th annual Goldman Sachs Communacopia Conference. Stephenson provided updates on the company's third-quarter performance and plans for deleveraging following the June 2018 acquisition of Time Warner. Capital Allocation and Deleveraging Business Update In AT&T's Entertainment Group, Stephenson said the company's newest video offering, WatchTV, is profitable and that the company has seen a better-than-expected customer reaction to a recent price increase in the company's over-the-top video service DIRECTV NOW. Stephenson also said that broadband trends are positive with increased uptake of fiber-based services driving increases in average revenues per subscriber. Based on these trends, Stephenson said while he expects continued pressure on Entertainment Group EBITDA in the second half of 2018, he expressed confidence that 2019 EBITDA would be flat compared with 2018 levels. Time Warner Acquisition Following the acquisition, AT&T is positioned as a modern media company with four key elements: ownership of premium content; nearly 300 million direct-to-consumer (D2C) relationships1; technology to deliver addressable advertising; and high-speed networks. Stephenson said that AT&T's wireless network was recently recognized as the No. 1 network by research firm Global Wireless Solutions GWS). GWS reported that AT&T had the best video streaming quality, quickest loading times and best voice retainability. Wireless and 5G Stephenson noted that the United States is leading the world in the transition to 5G. AT&T continues to expect to be the first U.S. company to launch standards-based mobile 5G service. The company plans to launch in parts of 12 cities by the end of 2018 and expand to 19 cities in early 2019. The company is also rolling out its 5G Evolution network using advanced 4G LTE technologies to deliver higher speeds — up to 400 Mbps peak theoretical speeds — on its 4G network. The company plans to cover 175 million people in more than 400 markets with its 5G Evolution technology by the first quarter of 2019. Advertising Opportunity Net Neutrality and Privacy *About AT&T 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. © 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. 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 U.S. 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. 1 Represents cumulative 170 million video-capable D2C relationships across the following services: Postpaid, prepaid and reseller wireless; US and DTV LatAm pay-TV, including DIRECTV NOW; HBO NOW; Mexico wireless; and US consumer broadband as well as 130 million unique visitors to CNN.com and Bleacher Report.
View original content to download multimedia:http://www.prnewswire.com/news-releases/randall-stephenson-provides-att-update-at-goldman-sachs-communacopia-conference-300711801.html SOURCE AT&T Inc. |