AT&T will slash $3 billion off its capital investments next year
AT&T is planning to spend just $20 billion on capital investment in 2020, down from $23 billion this year. [...] The company is on pace to exceed its 2019 goal as it averaged more than $6 billion per quarter in the first three quarters. But with a forecast of $20 billion across all of 2020, AT&T expects to spend about $5 billion per quarter on capital investments going forward. The company is under pressure from investors to control spending, in part because its TV business is tanking and because of AT&T's giant debt load stemming from the purchases of DirecTV and Time Warner.
[...] AT&T's capital spending will decline next year despite the company's plan to roll 5G mobile service out nationwide. AT&T already got much of the 5G spending out of the way by purchasing spectrum licenses, and AT&T CEO Randall Stephenson told investors that the company's "strong spectrum position will allow for lower capital intensity" over the next three years.
AT&T has also mostly stopped its fiber-to-the-home broadband construction even though large portions of its 21-state territory still have only copper-based DSL service. Fiber deployment isn't stopping completely, as Stephenson said that "5G requires us to continue deploying fiber." But AT&T customers who can't get modern broadband speeds or reliable wireline service in their homes would welcome more capital investment in their neighborhoods.
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(Score: 2) by sjames on Thursday October 31 2019, @09:09AM (2 children)
Can someone explain again how allowing more mergers and slashing network neutrality will surely increase investment in infrastructure?
(Score: 2) by deimtee on Thursday October 31 2019, @11:05AM
Well, it lets you pay hundreds of millions to the CEO's and board members. How can you expect them to produce their best work without an incentive?
If you cough while drinking cheap red wine it really cleans out your sinuses.
(Score: 2) by JoeMerchant on Thursday October 31 2019, @01:49PM
Somehow, any company that carries the name AT&T also carries the inherently evil spirit that grew in the original monopoly. Let it die, it's entirely redundant these days.
🌻🌻 [google.com]