AT&T Inc. (T) Deutsche Bank’s 32 Annual Media, Internet & Telecom Conference (Transcript)

News Room

AT&T Inc. (NYSE:T) Deutsche Bank’s 32 Annual Media, Internet & Telecom Conference March 12, 2024 1:00 PM ET

Company Participants

Pascal Desroches – Chief Financial Officer

Conference Call Participants

Bryan Kraft – Deutsche Bank

Bryan Kraft

Okay. Welcome, everyone. Welcome back again. I’m excited to introduce our next guest on the stage here. Pascal Desroches, the Chief Financial Officer of AT&T. Pascal, welcome.

Pascal Desroches

Hey, it’s a pleasure to be here. Hello, everybody. Maybe before I forget, I’m supposed to remind everyone of the safe harbor statements that’s up on the slide here and available on our Web site.

Bryan Kraft

All right.

Pascal Desroches

There we go.

Question-and-Answer Session

Q – Bryan Kraft

Maybe to start off. It seems, Pascal, there’s sentiment among some investors. It seems like that AT&T hasn’t really progressed from where the company was back in early 2020 when the balance sheet was stretched, the dividend wasn’t sustainable. The wireless business wasn’t growing and the company had a lot of exposure to the media and Pay TV distribution industries. Maybe you could take the opportunity to walk through really how much AT&T has evolved over the past four years since John Stankey and yourself stepped at your respective CEO and CFO roles?

Pascal Desroches

Yes. Look, I appreciate the question, Bryan. When I take a step back, we were a company that had all sorts of different parts, media, connectivity and advertising business. We have spend that down to now where we are a core connectivity provider. Our goal and our aspiration is to be the best connectivity provider in the US, led by having great capabilities in both 5G and fiber. Over the course of the last three years, not only have we simplified the company, we’ve reenergized growth. Let’s take first our mobility business. During the last three years, we added nearly 8 million, I think the exact number

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