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takyon writes:

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.

Related: AT&T Lays Off Thousands After Nabbing Billions In Tax Breaks And Regulatory Favors
AT&T Will Give Poor People 1.5 Mbps DSL for $10 if US Allows DirecTV Merger
AT&T Employees Took Bribes to Plant Malware on the Company's Network
AT&T Turns On 5G In New York, But It Still Isn't Available To Consumers
Lawsuit: AT&T Signed Customers Up for DirecTV Now Without Their Knowledge
AT&T Considers Getting Rid of DirecTV as TV Business Tanks, WSJ Reports

Original Submission

1. "takyon" - https://soylentnews.org/~takyon/
2. "AT&T will slash $3 billion off its capital investments next year" - https://arstechnica.com/information-technology/2019/10/att-is-cutting-capital-investment-from-23-billion-to-20-billion/
3. "more than $6 billion per quarter" - https://investors.att.com/~/media/Files/A/ATT-IR/financial-reports/quarterly-earnings/2019/3q-2019/3Q19_Trending%20Schedules.pdf
4. "tanking" - https://arstechnica.com/information-technology/2019/10/att-loses-another-1-3-million-tv-customers-as-directv-freefall-continues/
5. "told investors" - https://investors.att.com/~/media/Files/A/ATT-IR/financial-reports/quarterly-earnings/2019/3q-2019/ATT%203Q19%20Transcript.pdf
6. "mostly stopped" - https://arstechnica.com/tech-policy/2019/06/att-cuts-another-1800-jobs-as-it-finishes-fiber-internet-buildout/
7. "AT&T Lays Off Thousands After Nabbing Billions In Tax Breaks And Regulatory Favors" - https://soylentnews.org/article.pl?sid=19/06/21/0339249
8. "AT&T Will Give Poor People 1.5 Mbps DSL for $10 if US Allows DirecTV Merger" - https://soylentnews.org/article.pl?sid=15/07/08/1424253
9. "AT&T Employees Took Bribes to Plant Malware on the Company's Network" - https://soylentnews.org/article.pl?sid=19/08/06/188224
10. "AT&T Turns On 5G In New York, But It Still Isn't Available To Consumers" - https://soylentnews.org/article.pl?sid=19/08/07/0428218
11. "Lawsuit: AT&T Signed Customers Up for DirecTV Now Without Their Knowledge" - https://soylentnews.org/article.pl?sid=19/09/18/1656205
12. "AT&T Considers Getting Rid of DirecTV as TV Business Tanks, WSJ Reports" - https://soylentnews.org/article.pl?sid=19/09/20/0055218
13. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=37182

printed from SoylentNews, AT&T to Cut Capital Investments by $3 Billion in 2020 on 2023-06-05 04:49:10