Sector: Communication Services|Industry: Telecom Services|Market Cap: $167.61B|Employees: 149.9K
AT&T is a leading telecommunications and technology services provider globally. The company's core business involves providing wireless and wireline telecom, and broadband services to consumers and businesses. AT&T leverages its extensive network infrastructure, including fiber and 5G technologies, to maintain a strong market position in the US and Mexico.
Total operating revenues increased by 1.4% year-over-year, with the Communications segment contributing most of the growth, particularly in Mobility and Consumer Wireline, while Business Wireline declined. This indicates a shift in revenue drivers.
Operating income improved significantly, moving from a loss of $4.6B in 2022 to a profit of $23.5B in 2023. This was largely driven by a reduction in operating expenses, including lower asset impairments and restructuring charges.
Depreciation and amortization expense increased by 4.2% year-over-year, primarily due to ongoing capital spending for strategic initiatives such as fiber and network upgrades. This indicates continued investment in infrastructure.