AT&T’s reported third-quarter results showed strong, sustained momentum in customer additions across its growing 5G wireless and fiber networks.
“We’re investing at record levels to enhance our 5G and fiber connectivity and to deliver the best experience available in the market,” said John Stankey, AT&T CEO. “Our results show our strategy is resonating with customers as we continue to see robust levels of postpaid phone net adds and approach 1 million AT&T Fiber net adds for the year.
“Our disciplined go-to-market approach is helping drive healthy subscriber growth with high-quality customers. As a result, we now expect to achieve wireless service revenue growth in the upper end of the 4.5 percent to 5 percent range. We remain confident in our ability to achieve, or surpass, all our financial commitments for the year, while still investing to bring our customers the industry’s best services.”
AT&T has reported consolidated operating revenues of $30 billion during Q3 2022, down 4.1% YoY. The group cites the 2021 separation of its US pay-TV business as the mitigating factor. Meanwhile, operating income from continuing operations of AT&T was $6 billion in this period.
Regardless, wireless service revenues were up 5.6% — the best growth in more than a decade — while broadband revenues surged by 6.1% driven by AT&T Fiber revenue growth of more than 30%.
There was 708,000 postpaid phone net adds and 338,000 AT&T Fiber net adds, leading to the second-best quarter ever. Notably, AT&T recorded 11 straight quarters with more than 200,000 net adds.
With regards to network coverage, AT&T says that its mid-band 5G network now covers 100 million people, causing them to update the end-2022 target to cover more than 130 million people. In terms of FTTH access, AT&T Fiber is currently serving more than 18.5 million consumer locations in 100 US metropolitan areas.