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AT&T Releases Earnings Report for First Quarter

The first three months of the year saw AT&T record consolidated revenues in the amount of $38 billion. This figure, however, did not improve upon the $39.4 billion recorded during the same quarter in the previous year. According to the carrier, the decline can be primarily attributed to the adoption of new accounting standards with regards to recognizing revenues (ASC 606). AT&T further noted that the adoption of ASC 606 has also led to operating revenues of $31.8 billion (versus the $33 billion posted in Q1 2017).

In other Q1 2018 results, AT&T had an operating income of $6.2 billion, decreasing from the $6.4 billion in the first quarter of last year. Still, the company was able to improve its operating income margin to 16.3 percent, versus the 16.1 percent recorded during the same quarter one year prior. In terms of net income attributable to AT&T, the carrier reported earnings of $4.7 billion, or equivalent to $0.75 per diluted share. That figure represents an improvement over last year’s $3.5 billion (or $0.56 per diluted share).

AT&T also reported a $8.9 billion cash from operating activities, and $6.1 billion in capital expenditures. As for free cash flow from the start of January until the end of March, the mobile operator registered a total amount of $2.8 billion.

AT&T reported that it gained 49,000 241,000 prepaid and 2.728 million connected device customers but lost 388,000 reseller customers for a total gain of 2.63 million domestic subscribers in Q1. AT&T also fainn 543,000 customers in Mexico bringing total customer adds for the quarter to 3.2 million.

Speaking of prepaid, AT&T expects continued growth in this market with 192,000 phone net gains in the first quarter, and strong year-over-year improvement in terms of quarterly postpaid phone net gains, spurred by additions of close to half a million branded smartphones. When it comes to postpaid phone customer turnover,  a churn of 0.84 percent should mark the lowest first quarter postpaid phone churn ever for the major US carrier.

As for its Entertainment Group, AT&T expects DirecTV Now net gains to hit 312,000, raising the total subscriber to almost 1.5 million.

In AT&T's conference call with investors and analysts, CFO John Stephens revealed that the carrier's Cricket prepaid brand now has 9 million subscribers.

Source: AT&T

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  1. i just don't get the point of losing 1.5 million satellite tv customers and then signing up those same customers to their internet tv offering at half the price? they shouldve just lowered the price and kept everyone on regular tv... strange decisions

    1. Where does it say it was AT&T that lost 1.5 million TV customers?

    2. people don't watch regular tv anymore. unless if you are older. so no surprise for the drop in sat tv numbers.

  2. I guess Cricket Wireless choose to release its latest subscriber count of 9 Million in contrast to Tracfones' unusual move of releasing Straight Talks' Subscriber count of 8 Million. http://cricketwireless.mediaroom.com/Cricket-Wireless-Surpasses-9-Million-Subscribers

  3. So ATT is rolling in money as is Disney yet continues to be mean to their workers in negotiating good labor contracts. Same old greedy CEOs and corporation.

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