AT&T CFO Updates Shareholders at Citi Media & Entertainment Conference

DALLAS, January 4, 2023 /PRNewswire/ — Pascual DesrochesCFO, AT&T* Inc. (NYSE:you), spoke today at Citi’s Media and Entertainment Conference, where he provided an update to shareholders.

Desroches made the following points:

• The company continues to focus its efforts on driving solid growth in fiber and 5G services, driven by continued high demand for connectivity. While the company does not expect growth levels in the wireless industry to mirror those experienced in 2021 or the first half of 2022, Desroches said demand remains healthy. The company continues to see strong levels of demand through its consistent approach to merchandising despite choosing not to be as promotional as its peers during the recent holiday sales season.
• Facing 2023, Desroches He said he expects the company to maintain its focus on growing customer relationships in a disciplined manner, proactively cutting costs and being deliberate in its capital allocation. He said 2022 and 2023 are expected to be peak years for capital investment, as the company continues to invest in 5G and fiber. IN&you it remains focused on achieving its target of 2.5x net debt to adjusted EBITDA and expects to use cash after dividends to reduce debt until then.
• AT&T it plans to provide detailed guidance for 2023 when it announces earnings later this month. rocks indicated that it expects 2023 free cash flow growth to be supported by wireless revenue growth from a larger postpaid phone base with increased ARPU;…