Page 39 - SAMENA Trends - October-December 2024

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scale,” he continued. The BEAD program is
a US federal initiative to expand high-speed
internet access across underserved and
rural areas of the country. Part of the 2021
Infrastructure Investment and Jobs Act, it
provides $42.5 billion to help states build
broadband infrastructure and improve
internet affordability. A key part of BEAD
is the requirement to use mostly US made
materials, boosting local manufacturing
and jobs. The program aims to bridge
the digital divide, making reliable internet
accessible to all communities. Last week,
AT&T reported its Q3 annual results, which
showed that operating revenues were
down 0.5% to $30.2 billion. Over 403,000
monthly bill-paying wireless phone fibre business customers. Despite being pass 200,000 new customers for its 19th
subscribers were added in the quarter, held back by the two hurricanes that hit consecutive quarter.
above industry estimations, and 226,000 the US last month, AT&T still managed to

AT&T Continues Its Fiber + 5G Focus and is Considering Adding Another
10-15 million Passings to Its Goal of 30 million

AT&T and fiber provider Corning have relationship with AT&T, we’re helping investments as part of its wireless strategy
expanded their ongoing relationship bring the transformational benefits of and as a product that “elevates the AT&T
with a multi-year purchasing deal for fiber to more people and communities. We brand.” Stankey pointed out that about
fiber products, which Corning said is share a fundamental belief that the more four of every 10 AT&T Fiber households
valued at more than $1 billion. AT&T is people you connect, the more value you also use AT&T for wireless, and he said
already Corning’s largest customer with create. And optical fiber is bringing people that the company’s share of postpaid
preferential volume status for Corning together at an unprecedented scale.” AT&T phone subscribers within its fiber footprint
products, the fiber provider added. Corning executives, including Stankey, extolled the is significantly higher than its national
also noted that the products which AT&T role of fiber in AT&T’s strategy during the average. “This highlights the true benefit
will be buying, including Corning Evolv company’s third quarter call with investors of owning and operating both 5G and fiber
FlexNAP multi-fiber product, are compliant last week. Stankey said during the call that networks at scale, which is the ability to
with the Broadband Equity, Access, and AT&T continues to see “strong underlying drive higher share in both mobility and
Deployment program (BEAD) program customer demand for fiber,” and noted that broadband through converged service
requirements around products being made the company has seen more than 200,000 penetration,” he explained. “Over time, we
in America. Corning has been in the midst of consumer fiber net additions for 19 expect this should drive higher returns on
a $139 million expansion of its operations consecutive quarters. “These consistent our invested capital in both our mobility
at multiple locations in Monroe County, results make it clear that our fiber and broadband businesses than either
New York over the past two years, in order to investment is generating attractive returns could achieve as a standalone operation.”
help meet anticipated fiber demand. John with improved operating leverage as we AT&T is both offering its owned fiber, and
Stankey, CEO of AT&T, said in a statement transition from legacy networks,” Stankey expanding its fiber offerings outside of its
that the new, multi-year agreement said, later adding: “While our 5G and fiber owned-fiber footprint through agreements
with Corning “helps us to connect more businesses are performing well on their with other fiber providers, such as its
households, communities, and businesses own, it’s increasingly clear that customers Gigapower joint venture BlackRock. AT&T
with the high-speed, reliable internet they prefer to purchase mobility and broadband CFO Pascal Desroches said in his remarks
need to thrive in a digital world.” “As data together as a converged service. Only on the quarterly call that: “The sustainable
and bandwidth requirements continue to AT&T can offer this at scale with benefits strength of fiber is driving consumer
grow, Corning is committed to the work from owners” economics. This is driving a wireline growth and yielding strong
of ensuring all Americans have access to reinforcing cycle, where the success of our returns. … It is clear that where we do have
reliable, high-speed fiber connections,” fiber business drives growth in mobility, AT&T Fiber, we win.”
said Corning Chairman and CEO Wendell and vice versa.” Stankey laid out a number
Weeks. “By extending our longtime of other supporting points for AT&T’s fiber

39 OCT-DEC 2024