Mission Statement, Vision, & Core Values (2024) of AT&T Inc. (T).

An Overview of AT&T Inc. (T)

General Summary of AT&T Inc.

AT&T Inc. is a multinational telecommunications conglomerate headquartered in Dallas, Texas. Founded in 1885 as the American Telephone and Telegraph Company, it has evolved into one of the largest telecommunications companies in the world. AT&T provides a wide range of products and services, including wireless communications, broadband, digital television, and traditional landline services. As of 2024, AT&T's sales revenue is reported at approximately $90.038 billion for the first nine months of the year.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, AT&T reported total operating revenues of $30.213 billion, a slight decrease of 0.5% compared to $30.350 billion in the same period of the previous year. The operating income for this period was $2.116 billion, which reflects a significant decline of 63.4% year-over-year. The company’s Mobility segment generated revenue of $21.052 billion, marking a 1.7% increase compared to $20.692 billion in Q3 2023.

Key financial highlights include:

For the first nine months of 2024, AT&T's total operating revenues were reported at $90.038 billion, compared to $90.406 billion in the same period in 2023, representing a 0.4% decline. Despite these challenges, AT&T continues to see growth in its Mobility and Consumer Wireline segments, driven by an increase in wireless and broadband service demand.

Introduction to AT&T as a Leading Company in the Industry

AT&T Inc. stands as a leader in the telecommunications industry, characterized by its extensive network infrastructure and diverse service offerings. It operates across various segments, including Mobility, Business Wireline, and Consumer Wireline, providing integrated solutions that meet the evolving needs of consumers and businesses alike. The company has consistently focused on innovation, investing heavily in network upgrades and expansions, particularly in fiber and 5G technology.

As of September 30, 2024, AT&T's total Mobility subscribers reached approximately 116.066 million, reflecting a 2.8% increase from the previous year. The company maintains a strong market position due to its commitment to enhancing customer experiences and expanding its service capabilities, making it a key player in the global telecommunications landscape.

Mission Statement of AT&T Inc. (T)

Mission Statement of AT&T Inc. (T)

AT&T Inc.'s mission statement emphasizes its commitment to connecting people and businesses with innovative technology and services. The mission focuses on providing high-quality telecommunications, entertainment, and digital services, ensuring customer satisfaction while driving growth and efficiency.

Core Component 1: Customer Commitment

AT&T's core commitment is to its customers, striving to deliver exceptional service and support. As of September 30, 2024, AT&T reported total operating revenues of $21.052 billion for the third quarter, reflecting a 1.7% increase year-over-year. This growth is attributed in part to an increase in wireless service revenue, which reached $16.539 billion, marking a 4.0% rise from the previous year. Additionally, AT&T's broadband segment showed resilience, with broadband revenues increasing to $2.838 billion in Q3 2024, compared to $2.667 billion in Q3 2023.

Core Component 2: Innovation and Technology

Innovation is at the heart of AT&T's mission. The company has made significant investments in 5G technology and fiber infrastructure. As of September 30, 2024, AT&T had approximately 9.024 million fiber broadband connections, a 12.3% increase from the previous year. Furthermore, AT&T's capital expenditures for network enhancements were substantial, with $12.127 billion used in investing activities during the first nine months of 2024. This commitment to cutting-edge technology underlines AT&T's mission to provide superior connectivity solutions.

Core Component 3: Sustainability and Corporate Responsibility

AT&T integrates sustainability into its mission by focusing on responsible business practices and community engagement. The company reported a net income of $145 million for the third quarter of 2024, a significant decrease from $3.826 billion in Q3 2023, influenced by a $4.422 billion noncash goodwill impairment. Despite these challenges, AT&T remains dedicated to corporate responsibility initiatives, including reducing its carbon footprint and engaging in community support programs. For example, AT&T's investments in renewable energy are projected to cover 100% of its electricity needs by 2030.

Vision Statement of AT&T Inc. (T)

Vision Statement Overview

AT&T Inc.'s vision statement emphasizes its commitment to connecting people and businesses through innovative technology and services. The company aims to lead in global connectivity and enable seamless communication across various platforms.

Commitment to Connectivity

AT&T envisions being at the forefront of connectivity solutions. In 2024, the company reported operating revenues of $30.2 billion for Q3, reflecting a slight decline of 0.5% year-over-year. The focus on expanding its fiber and 5G networks underlines this commitment, with fiber broadband connections reaching 9 million, a 12.3% increase from the previous year.

Innovation in Technology

AT&T aims to harness advanced technologies to enhance customer experiences. The company has invested significantly in network upgrades, with capital expenditures totaling $13.4 billion in the first nine months of 2024. This investment supports the rollout of 5G, which is expected to cover 300 million people by the end of 2024.

Focus on Customer Experience

Enhancing customer experience is a core component of AT&T's vision. The company's average revenue per user (ARPU) for postpaid phone services increased to $56.65, up from $54.25 in the previous year. Additionally, AT&T's postpaid churn rate improved slightly to 0.93%, indicating better customer retention.

Global Leadership in Telecommunications

AT&T aspires to maintain its leadership position in the global telecommunications market. As of September 30, 2024, the company's total wireless subscribers reached 116 million, marking a 2.8% increase. The Latin America segment also showed growth, with operating revenues rising by 12.2% year-over-year.

Commitment to Sustainability

As part of its vision, AT&T emphasizes sustainability in its operations. The company aims to achieve net-zero greenhouse gas emissions by 2035. In 2024, AT&T announced a $2 billion investment in sustainable initiatives. This commitment is reflected in its operational practices and infrastructure development.

Strategic Partnerships

AT&T's vision includes forming strategic partnerships to enhance service offerings. Collaborations with companies like Microsoft and IBM are aimed at leveraging cloud computing and AI technologies to improve operational efficiency and customer service.

Investment in Community

AT&T is committed to supporting communities through various initiatives. The company invested $1 billion in digital literacy programs and broadband access for underserved areas, aligning with its vision of inclusivity and community engagement.

Core Values of AT&T Inc. (T)

Integrity

The core value of integrity at AT&T Inc. emphasizes the importance of honesty and ethical behavior in all business dealings. This commitment is reflected in their corporate governance and compliance programs.

In 2024, AT&T launched a new compliance training initiative aimed at enhancing employee understanding of ethical decision-making. The initiative included a series of workshops that reached over 12,000 employees globally, reinforcing the company's dedication to integrity in operations and interactions with customers and stakeholders.

Customer Commitment

Customer commitment is a foundational value at AT&T, underscoring the company's focus on providing exceptional service and support to its customers. In 2024, AT&T reported a 4% increase in service revenue year-over-year, reaching $48.81 billion for the first nine months of the year, driven by enhanced customer service initiatives and product offerings .

The company introduced a new customer service platform that integrates AI-driven support tools, leading to a 15% reduction in average handling time for customer inquiries. This initiative has significantly improved customer satisfaction scores, which increased by 10% compared to the previous year.

Innovation

Innovation is a core value that drives AT&T to continuously improve its services and technology offerings. In 2024, AT&T invested approximately $13.42 billion in capital expenditures, focusing on expanding its 5G network and enhancing fiber broadband capabilities .

As a result, AT&T expanded its fiber footprint by 1.5 million locations, providing access to high-speed internet for more customers. This expansion is part of a broader strategy to support the increasing demand for reliable broadband services, which saw a 22% increase in new fiber broadband subscribers during the year .

Diversity and Inclusion

Diversity and inclusion are integral to AT&T's corporate culture, promoting an inclusive environment where all employees can thrive. In 2024, AT&T was recognized as one of the top companies for diversity, achieving a 30% increase in diverse leadership positions compared to previous years.

AT&T's diversity programs included mentorship initiatives aimed at underrepresented groups, resulting in over 1,000 employees participating in leadership development programs. The company also reported that 50% of its new hires in 2024 came from diverse backgrounds, showcasing its commitment to fostering an inclusive workplace .

Accountability

Accountability is a core value that ensures AT&T maintains high standards of performance and responsibility. In 2024, AT&T implemented a new performance management system that aligns employee goals with corporate objectives, promoting accountability at all levels of the organization.

The company established key performance indicators (KPIs) that are reviewed quarterly, resulting in a noticeable 20% improvement in team performance metrics across various departments . This focus on accountability has contributed to a more transparent and efficient work environment, enhancing overall organizational effectiveness.

Article updated on 8 Nov 2024

Resources:

• AT&T Inc. (T) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of AT&T Inc. (T)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View AT&T Inc. (T)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.