Summary
AT&T Inc.'s second quarter 2022 results showed a notable decrease in total operating revenues compared to the prior year, primarily due to the separation of its WarnerMedia business. While service revenues declined, equipment revenues saw a modest increase. The company's Communications segment, its largest, experienced revenue growth driven by its Mobility and Consumer Wireline units, though Business Wireline saw a decline. Despite the revenue drop, AT&T demonstrated improved operating income in its Mobility and Latin America segments, while Business Wireline faced challenges. The company's focus remains on its core Communications business, with continued investment in its 5G network and fiber footprint. Investors should monitor the impact of strategic divestitures and ongoing investments on future profitability and cash flow.
Financial Highlights
45 data points| Revenue | $29.64B |
| SG&A Expenses | $7.26B |
| Operating Expenses | $24.69B |
| Operating Income | $4.96B |
| Interest Expense | $1.50B |
| Net Income | $4.16B |
| EPS (Basic) | $0.57 |
| EPS (Diluted) | $0.56 |
| Shares Outstanding (Basic) | 7.17B |
| Shares Outstanding (Diluted) | 7.61B |
Key Highlights
- 1Total operating revenues decreased by 17.1% to $29.6 billion for the second quarter and by 17.1% to $59.4 billion for the six months ended June 30, 2022, largely due to the separation of the WarnerMedia business.
- 2Income from continuing operations decreased to $4.75 billion ($0.59 per diluted share) for the second quarter and $9.90 billion ($1.23 per diluted share) for the six months ended June 30, 2022, down from $5.97 billion ($0.76 per diluted share) and $13.56 billion ($1.73 per diluted share) in the prior year periods, respectively.
- 3The Communications segment's operating revenues increased by 2.0% to $28.7 billion for the second quarter, driven by growth in Mobility and Consumer Wireline, partially offset by a decline in Business Wireline.
- 4Mobility operating income increased by 3.4% to $6.21 billion in the second quarter, supported by service and equipment revenue growth, with a slight increase in subscribers.
- 5The company paid $5.835 billion in dividends to stockholders during the first six months of 2022.
- 6Cash and cash equivalents decreased significantly to $4.018 billion at June 30, 2022, from $19.223 billion at December 31, 2021, reflecting cash used for operations, investments, and financing activities, including debt repayments and spectrum acquisitions.