AT&T Inc., an entrenched global telecommunications behemoth, has a strong footfall in telecommunications, technology, and media sectors worldwide. Its assortment of products and services varies per market, and it functions primarily through two commercial sectors: Communications and Latin America.
The telecom titan encounters competition from industry peers offering wireless, video, broadband, data and voice media, and advertising services. Among its key competitors are Verizon Communications Inc. and T-Mobile US Inc.
In the fiscal year ending December 31, 2023, AT&T registered a healthy hike with total operating revenue amassing $122.4 billion. This marked a year-on-year growth of 1.4%. A deeper dive into the numbers revealed Communications, encompassing Mobility, Business Wireline, and Consumer Wireline, were the chief contributors with a whopping 97% of total revenues. The Latin America segment chipped in with an aiding 3%. This upward swing mirrors the improved revenues across Mobility, Consumer Wireline, and the company's Mexico business unit.
Designed as one of multiple regional holding firms to hold AT&T Corporation's local telephone businesses, AT&T came to life on January 1, 1984, under an antitrust consent decree, stepping into the realm as a standalone publicly traded telecommunications service provider.
A strategic string of acquisitions spanning from 2006 to 2021 fortified AT&T's foothold in the industry. The list of new entities taken over included Leap Wireless, BellSouth Corp., DIRECTV, and Cingular Wireless. Temporarily, AT&T held stakes in TimeWarner Inc. and WarnerMedia before parting ways in 2022. As of 2024, AT&T's stewardship reins are held by CEO John Stankey.
Looking back at 2023, AT&T celebrated a significant milestone realizing its coverage target of over 210 million people through its nationwide 5G network. The chronicle of achievements continued into 2024 when AT&T allied with FirstNet Authority, pumping in a massive $6.3 billion investment to ensure complete 5G capabilities on FirstNet dedicated to serving America's first responders during emergencies with priority and preemption service.
The U.S. operations of AT&T's interstate telecommunications services come under the purview of the Federal Communications Commission, as per the Communications Act of 1934 and related laws. By 2023, AT&T's customer base swelled past 127 million. Today, AT&T's nerve-center operates from Dallas, TX, caterings to customers in the U.S. and Latin America through its consumer and business wing. With its 5G network blanketing nearly 99% of Americans, AT&T continues to redefine its founding ethos from way back in 1984 when it was created to break down telephone communication monopolies.