AT&T Inc. (NYSE:T) Q2 2024 Earnings Conference Call July 24, 2024 8:30 AM ET

Company Participants

Brett Feldman - SVP, Finance and IR
John Stankey - CEO
Pascal Desroches - CFO

Conference Call Participants

John Hodulik - UBS
Simon Flannery - Morgan Stanley
Jim Schneider - Goldman Sachs
David Barden - Bank of America
Sebastiano Petti - JPMorgan
Michael Rollins - Citi
Bryan Kraft - Deutsche Bank

Operator

Welcome to AT&T's Second Quarter 2024 Earnings Call. [Operator Instructions] And as a reminder, this conference is being recorded.

I would now like to turn the conference call over to your host, Brett Feldman, Senior Vice President of Finance and Investor Relations. Please go ahead.

Brett Feldman

Thank you, and good morning, everyone. Welcome to our second quarter call. I'm Brett Feldman, 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 are subject to risks and uncertainties described in AT&T's SEC filings, results may differ materially. Additional information, as well as our earnings materials are available on the Investor Relations website.

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

John Stankey

Thank you, Brett. I appreciate you joining the call.

Hard to believe we are already halfway through the year, but we are and our team delivered solid second quarter results as we continue to grow the right way by efficiently adding high-value wireless and broadband subscribers. Our strong start to the year is built on the foundation of what our team has accomplished over the past four years. As a result of this hard work, we're now repositioned around our connectivity strengths. This puts us on a clear path to becoming the leading provider of converged 5G and fiber services.

Since Pascal will go through the quarter in detail, I'd like to spend some time highlighting how our team's execution of our investment-led strategy is driving consistent results. In Mobility, we delivered 419,000 postpaid phone net adds in the second quarter and 768,000 during the first half of the year.

This put us modestly ahead of last year's pace despite ongoing wireless market normalization. And we're not just growing customers. Our Mobility EBITDA grew by more than 5% in the second quarter, driven by more than 3% growth in service revenue and 100 basis points of service margin expansion. We're delivering consistent results by keeping the customer at the center of everything we do. It's a winning play that we continue to run.