AT&T Inc. (T) Q2 2023 Earnings Call Transcript

AT&T Inc. (NYSE:T) Q2 2023 Earnings Call Transcript July 26, 2023 8:30 AM ET

Company Participants

Amir Rozwadowski - Senior Vice President, Finance and Investor Relations

John Stankey - Chief Executive Officer

Pascal Desroches - Chief Financial Officer

Conference Call Participants

Brett Feldman - Goldman Sachs

John Hodulik - UBS

Simon Flannery - Morgan Stanley

Philip Cusick - JPMorgan

Michael Rollins - Citi

David Barden - Bank of America

Peter Supino - Wolfe Research

Frank Louthan - Raymond James

Operator

Thank you for standing by. Welcome to AT&T Second Quarter 2023 Earnings Call. At this time, all participants are in a listen only mode. [Operator Instructions] Following the presentation, the call will be opened for questions. [Operator Instructions] And as a reminder, this conference is being recorded.

I would now like to turn the conference call over to our host, Amir Rozwadowski, Senior Vice President, Finance and Investor Relations. Please go ahead.

Amir Rozwadowski

Thank you, and good morning, everyone. Welcome to our second quarter call. I'm Amir Rozwadowski, Head of Investor Relations for AT&T. Joining me on the call today are John Stankey, our CEO; and Pascal Desroches, our CFO.

Before we begin, I need to call your attention to our Safe Harbor statement. It says that, some of our comments today may be forward-looking. As such, they're subject to risks and uncertainties described in AT&T's SEC filings. Results may differ materially. Additional information including our earnings materials are available on the Investor Relations website.

With that, I'll turn the call over to John Stankey. John?

John Stankey

Thanks, Amir, and good morning, everyone. I appreciate you joining us. I'd like to open our discussion today by sharing that at the half way point of the year our performance and results are tracking entirely consistent with the guidance we provided to you. In fact, Pascal shares the specifics with you, I think you'll conclude that our performance continues to demonstrate our strategy is on track to achieve the objectives we outlined three years ago: to drive consistent growth; simplify the company; and reduce leverage.

To that end, I'd like to spend a few moments today summarizing that progress and how we believe this positions our company for sustainable and profitable growth going forward. Let's start by looking at our wireless. For the last three years our teams have executed on a strategy that enabled us to go from annually loosing share to now delivering the right combination of continued postpaid phone adds, low postpaid churn, growing average revenue per user and profitability growth.