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AT&T (T), America's biggest telecom company by revenue, reported robust second-quarter earnings as its cost-cutting plan paid off, amid an ongoing 5G rollout and stronger than expected subscriber gains.
AT&T CEO John Stankey says 'Internet Air' is being used surgically to support small businesses, to catch subs where copper infrastructure is being retired and possibly to support government-subsidized rural areas.
T earnings call for the period ending June 30, 2023.
'I feel fine about where things are going,' said AT&T CEO John Stankey. AT&T also plans to trim another $2 billion or more off its annual expenses over the next three years.
In a memo to employees dated July 18 and reviewed by Reuters, AT&T boss John Stankey admitted that "speculation around the potential need to manage these cables differently has created uncertainty in the financial markets to the detriment of our company and our shareholders."