Mobility service revenue increased by 3.3% year-over-year, while equipment revenue decreased by 9.8%, resulting in a slight increase in overall mobility revenue.

Consumer Wireline broadband revenue increased by 7.7% year-over-year, driven by an increase in fiber customers and higher ARPU, partially offset by declines in copper-based broadband services.

Business Wireline service revenue decreased by 9.6% year-over-year, driven by lower demand for legacy voice, data, and network services, partially offset by growth in connectivity services.

Operations and support expenses decreased in the first quarter of 2024, reflecting lower Mobility equipment costs and continued transformation efforts, offset by higher restructuring charges related to Open RAN deployment.

Depreciation and amortization expense increased in the first quarter of 2024, primarily due to higher depreciation expense related to ongoing capital spending for strategic initiatives such as fiber and network upgrades.

Mobility operating income margin increased from 30.5% in Q1 2023 to 31.4% in Q1 2024, indicating improved profitability in the segment.

The company is subject to ongoing regulatory and legislative risks, including those related to net neutrality, universal service, broadband deployment, and spectrum availability, which could impact the business.

The company faces risks related to supply chain disruptions, including difficulties in obtaining export licenses, an inability to secure component parts, and general business disruption, which could impact the business.

The company faces risks related to major equipment failures, software errors, cyber incidents, and security breaches that could disrupt networks or compromise customer information.

The company operates in an increasingly competitive industry and faces competition from companies that can offer product/service offerings at lower prices due to lower cost structures and regulatory and legislative actions adverse to the company.

The company faces competition from alternative technologies and government-owned or subsidized networks, which could impact the company's ability to compete effectively.

Mobility net subscriber additions increased by 7.4% year-over-year, driven by postpaid and reseller additions, indicating a strong competitive position in the wireless market.

Operations and support expenses decreased in the first quarter of 2024, reflecting lower Mobility equipment costs and continued transformation efforts. However, these were offset by higher restructuring charges related to Open RAN deployment.

Depreciation and amortization expense increased in the first quarter of 2024, primarily due to higher depreciation expense related to ongoing capital spending for strategic initiatives such as fiber and network upgrades.

Business Wireline operating income margin decreased from 7.1% in Q1 2023 to 1.3% in Q1 2024, indicating a decrease in profitability in the segment.

The company continues to invest in strategic initiatives such as fiber and network upgrades, which are expected to drive future growth and efficiency.

The company's deployment of Open RAN is causing a shortening of estimated economic lives of wireless equipment that will be replaced earlier than originally anticipated, resulting in increased depreciation expense.

The company faces risks related to the development and delivery of attractive and profitable wireless and broadband offerings and devices, including the ability to match speeds offered by competitors.

Capital expenditures totaled $3,758 million in Q1 2024, primarily focused on strategic initiatives such as fiber and network upgrades, indicating a focus on long-term growth.

At March 31, 2024, the company had approximately 144 million shares remaining from its share repurchase authorizations approved by the Board of Directors in 2014, indicating a commitment to returning value to shareholders.

The company paid dividends on common and preferred shares of $2,034 million during the first three months of 2024, compared with $2,014 million for the first three months of 2023, indicating a commitment to returning value to shareholders.

The filing does not contain specific information about environmental, social, or governance initiatives, making it difficult to assess the company's performance in these areas.

The company faces risks related to adverse economic and political changes, including inflation and rising interest rates, war or other hostilities, and public health emergencies, which could impact the business.

The company faces risks related to the uncertainty surrounding further congressional action regarding spending and taxation, which may result in changes in government spending and affect the ability and willingness of businesses and consumers to spend in general.

The company faces risks related to U.S. and foreign laws and regulations regarding intellectual property rights protection and privacy, personal data protection and user consent, which are complex and rapidly evolving.