Telco Earnings Recap: Verizon, AT&T, and T-Mobile

Three major telcos reported Q1 earnings last week.

Verizon

Verizon reported $33 billion in revenue, up 0.2% year-over year.

The company pointed to the success of their new myPlan offer, which is a customizable, flexible plan.

Verizon said that they expect half of the base to be on the new myPlan offer in the future, and almost a quarter of customers are currently on it. The company also pointed to FWA wins, emphasizing growth in the business space

AT&T

AT&T reported $30 billion in revenue, down 0.4% year-over-year.

The company is strongly focused on growing the converged 5G and fiber networks, while softer on fixed wireless particularly on consumer FWA.

Nevertheless, AT&T added 110,000 FWA customers this quarter and recently launched the fixed wireless Internet Air for business.

T-Mobile

T-Mobile also reported Q1 earnings this week and fielded questions about their new foray into fiber.

Revenue was $16.1 billion, up 4% year-over-year.

The company, with a private equity firm, intends to acquire Lumos, a mid-Atlantic fiber operator giving T-Mobile a 50% equity stake and their fiber base.

They were hesitant to expand on future fiber plans, saying they are open minded about the long term, but emphasized that they are a “mobile-first business.”