AT&T non-GAAP EPS of $0.57 in-line, revenue of $29.8B misses by $180M

AT&T Press Release (NYSE:T): Non-GAAP EPS for the second quarter was as expected at $0.57.

Revenue of 29.8 billion dollars (-0.4% compared to the previous year) is 0.1 billion 80 million dollars lower.

This is due to a decline in business wireless service revenue and a decline in mobility equipment revenue due to a decrease in sales volume. These declines were almost offset by increased revenue in mobility services, consumer wireless lines, and Mexico.

The net increase in postpaid phone calls was 419,000, and the industry-leading post-paid phone cancellation rate is expected to be 0.70%.

Mobility services revenue was $16.3 billion, up 3.4% year over year.

The net increase in AT&T fiber was 239,000. Net increase of more than 0.2 million for 18 consecutive quarters

Consumer broadband revenue was $2.7 billion, up 7.0% year over year

27.8 million consumers and businesses have optical fiber installed

Throughout the year, AT&T will repeat the following guidance:

Wireless services revenue grew in the 3% range.

Broadband revenue grew by over 7%.

Adjusted EBITDA* grew in the 3% range.

Capital investments* are 21 billion to 22 billion dollars.

Free cash flow* is 17 billion to 18 billion dollars.

Adjusted EPS* is $2.15 to $2.25.

Adjusted EPS* growth is expected in 2025.

The company continues to expect to achieve a net debt to adjusted EBITDA* ratio in the first half of 2025 in the 2.5 times range.

By the end of 2025, more than 30 million consumers and businesses will have fiber optics installed.