AT&T Commits to Expansion of Fiber Networks
AT&T has reaffirmed its commitment to invest significantly in the expansion of its fiber networks, as stated in an update to shareholders.
Ongoing Efforts for High-Performance Networks
The company emphasized its dedication to building crucial, high-performance network infrastructure for both mobile and fiber networks. To support this initiative, AT&T anticipates a capital investment between $21 billion to $22 billion in 2024.
Consistent Investment in Network Growth
Chief Financial Officer Pascal Desroches previously indicated this investment level during the company’s fourth-quarter earnings call. Over the past five years, AT&T has allocated approximately $145 billion towards enhancing its wireless and wireline networks.
Accelerated Fiber Expansion
Citing favorable returns on fiber networks, AT&T hinted at potentially extending an additional 10 million to 15 million consumer and business fiber locations within its current footprint.
Financial Outlook and Market Performance
Despite fluctuations in market performance, AT&T reiterated its commitment to achieving the financial targets outlined in its fourth-quarter earnings report. The company aims for adjusted earnings between $2.15 to $2.25 per share for 2024.
Upcoming Event
Prior to Chief Operating Officer Jeff McElfresh’s participation in the Morgan Stanley Technology, Media, and Telecom Conference, AT&T provided this comprehensive update to stakeholders.