News
Over a quarter million new customers to AT&T Fiber drove AT&T’s consumer broadband revenues up more than 8 percent in the fourth quarter of 2023, according to a summary of the company’s Q4 growth released by AT&T.
AT&T has reason to celebrate after the final quarter of 2023 marked the company’s sixteenth quarter in a row with more than 200,000 net additions to AT&T Fiber.
The provider announced their latest subscriber gains this week and reported 10 percent growth in fourth quarter cash flow from operating activities.
Fourth quarter revenues for AT&T were $32 billion, up 2.2 percent year-over-year, with an adjusted operating income of $24.7 billion, representing a five percent year-over-year increase, according to the Jan. 24 announcement from AT&T.
John Stankey, the CEO of AT&T, applauded the company’s 2023 efforts.
“We accomplished exactly what we said we would in 2023, delivering sustainable growth and consistent business performance, resulting in full-year free cash flow of $16.8 billion, ahead of our raised guidance,” he stated in comments provided to the media.
Stankey said AT&T will continue to scale their 5G and fiber networks to meet “growing demand.”
Along with continuing the company’s streak of 200,000 net additions per quarter, 2023 also marked the sixth year in a row that the provider reported 1 million net AT&T Fiber adds.
The company’s announcement said growth in broadband revenues were “driven by full-year AT&T Fiber revenue growth of 26.6 percent,” with the company on track to pass over 30 million locations with fiber by the end of 2025.
In 2024, AT&T expects broadband revenue growth to continue with projected increases of around 7 percent, the company’s 2024 outlook stated.
The company also forecasted wireless services revenue growth in the range of 3 percent and over $20 billion in capital investment, AT&T’s outlook predicted.
