Fiber Fuels AT&T

AT&T reported first-quarter results that showed continued success in customer growth across wireless and fiber. Consolidated revenues for the first quarter totaled $38.1 billion versus $43.9 billion in the year-ago quarter, down 13.3% reflecting the impact of divested businesses, mainly U.S. Video in the third quarter of 2021 and Vrio in the fourth quarter of 2021, as well as lower Business Wireline revenues. These decreases were partially offset by higher Mobility revenues and, to a lesser extent, higher WarnerMedia, Consumer Wireline, and Mexico revenues. Total broadband gains, excluding DSL, were 5,000, reflecting AT&T Fiber net adds of 289,000, mostly offset by losses in non-fiber services. AT&T Fiber now has the ability to serve 17 million customer locations. Broadband revenues increased 6.8% due to fiber growth of 24.7%, partially offset by non-fiber revenue declines of 5.3%. Mobility revenues were up 5.5% year over year to $20.1 billion due to higher service and equipment revenues. AT&T had 965,000 postpaid net adds, which excludes impacts of the 3G network shutdown of 900,000. "Our fast-growing fiber revenues now make up nearly half of our consumer wireline broadband revenues,” said AT&T CEO John Stankey