AT&T Inc. reported a mixed financial performance for the quarter ended September 30, 2024. Operating revenues slightly decreased by 0.5% to $30,213 million compared to $30,350 million in the same period last year. The decline was primarily due to lower Business Wireline service and Mobility equipment revenues, partially offset by increases in Mobility service and Consumer Wireline revenues. Operating expenses rose by 14.4% to $28,097 million, largely due to a $4,422 million noncash goodwill impairment related to the Business Wireline reporting unit. Operating income plummeted by 63.4% to $2,116 million. Net income significantly dropped to $145 million, a 96.2% decrease from $3,826 million in the previous year, with a net loss attributable to AT&T of $174 million. The company's Communications segment saw a slight decrease in operating revenues, with Mobility revenues...Show More

AT&T Inc. reported a mixed financial performance for the quarter ended September 30, 2024. Operating revenues slightly decreased by 0.5% to $30,213 million compared to $30,350 million in the same period last year. The decline was primarily due to lower Business Wireline service and Mobility equipment revenues, partially offset by increases in Mobility service and Consumer Wireline revenues. Operating expenses rose by 14.4% to $28,097 million, largely due to a $4,422 million noncash goodwill impairment related to the Business Wireline reporting unit. Operating income plummeted by 63.4% to $2,116 million. Net income significantly dropped to $145 million, a 96.2% decrease from $3,826 million in the previous year, with a net loss attributable to AT&T of $174 million. The company's Communications segment saw a slight decrease in operating revenues, with Mobility revenues up by 1.7% due to subscriber gains and postpaid phone ARPU growth, while Business Wireline revenues fell by 11.8% due to lower demand for legacy services. Consumer Wireline revenues increased by 2.6%, driven by an increase in fiber customers. The Latin America segment reported a 3.0% increase in operating revenues, with Mexico showing a 5.3% increase in wireless subscribers. AT&T's capital expenditures for the first nine months of 2024 were $13,420 million, with an additional $1,571 million paid for vendor financing. The company's total debt stood at $129,012 million, with a debt ratio of 52.2%. The report also highlighted AT&T's ongoing legal and regulatory challenges, including net neutrality and spectrum availability for 5G services.