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AT&T INC.

(T)
  Report
Delayed Quote. Delayed Nyse - 05/07 04:10:00 pm
32.16 USD   -0.77%
05/07AT&T  : Debt Detail as of March 31, 2021
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05/07AT&T  : Recognized at 2021 DiversityInc Awards
PU
05/07Cinemark Signs Exhibitor Pacts With Four New Film Studios
MT
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AT&T Revenue Rises as Wireless Unit, HBO Add Customers

04/22/2021 | 05:32am EDT

By Drew FitzGerald

AT&T Inc. piled on more cellphone users, fiber-optic internet customers and HBO viewers during the first quarter, showing the media-and-telecom conglomerate's focus on growth as the economy starts to roar back after a year of coronavirus-related pressure.

The Dallas company reported 44.2 million domestic HBO and HBO Max subscribers, up from 41.5 million three months earlier, as its media division sought to gain on rivals like Netflix Inc. and Walt Disney Co. That figure included viewers who signed up for the company's new online streaming video service as well as those with older subscriptions to HBO through a cable-TV provider.

In the U.S. wireless business, AT&T's core profit engine, the company added 595,000 postpaid phone subscribers, a highly valued category of customers who are billed for monthly service after-the-fact. The carrier also posted a net gain of 207,000 prepaid phone subscribers.

Rival Verizon Communications Inc. on Wednesday reported a net loss of 178,000 postpaid phone connections over the same period. T-Mobile is slated to report its first-quarter results next month.

Overall, AT&T reported a profit of about $7.5 billion, or $1.04 a share, up from $4.6 billion, or 63 cents a share, a year earlier. The most recent earnings result benefited from a large on-paper actuarial gain on the value of its employee-benefit plans. Total revenue rose 2.7% to $43.9 billion.

The company's reported net debt jumped to about $169 billion, close to its level two years ago following the Time Warner buyout that turned AT&T into a media heavyweight. The latest debt increase stemmed from spending on the Federal Communications Commission's recent auction of C-band spectrum licenses, a key resource for wireless companies planning to upgrade their services to support high-speed fifth-generation, or 5G, network standards.

Verizon spent the most in the FCC auction, committing $45.5 billion to secure the valuable airwaves. AT&T pledged $23.4 billion for its licenses. Clearing existing users from the spectrum bands and upgrading network gear will cost the companies billions of dollars more.

AT&T said Thursday that its debt levels will decline in the coming years as asset sales and revenue growth whittle down its obligations. The company also affirmed its commitment to sustaining its dividend at current levels.

Write to Drew FitzGerald at andrew.fitzgerald@wsj.com

(END) Dow Jones Newswires

04-22-21 0732ET

Stocks mentioned in the article
ChangeLast1st jan.
AT&T INC. -0.77% 32.16 Delayed Quote.11.82%
NETFLIX, INC. 0.86% 503.84 Delayed Quote.-6.82%
T-MOBILE US 0.17% 139.12 Delayed Quote.3.17%
VERIZON COMMUNICATIONS -0.96% 58.72 Delayed Quote.0.92%
WALT DISNEY COMPANY (THE) 1.68% 184.84 Delayed Quote.2.02%
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Financials (USD)
Sales 2021 173 B - -
Net income 2021 20 422 M - -
Net Debt 2021 161 B - -
P/E ratio 2021 11,3x
Yield 2021 6,48%
Capitalization 230 B 230 B -
EV / Sales 2021 2,26x
EV / Sales 2022 2,27x
Nbr of Employees 228 470
Free-Float 93,4%
Chart AT&T INC.
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Technical analysis trends AT&T INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 31,40 $
Last Close Price 32,16 $
Spread / Highest target 33,7%
Spread / Average Target -2,36%
Spread / Lowest Target -50,2%
EPS Revisions
Managers and Directors
NameTitle
John T. Stankey President, CEO, COO & Director
Pascal Desroches Chief Financial Officer & Senior Executive VP
William E. Kennard Independent Chairman
David S. Huntley Chief Compliance Officer & Senior Executive VP
Matthew K. Rose Lead Independent Director
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