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25

AT&T

Patrick T. Fallon—Bloomberg via Getty Images
  • Previous Rank20
  • Country
    U.S.
  • Revenues ($M)$170,756.00
  • Revenue Percent Change6.4%
  • Profits ($M)$19,370.00
  • Profits Percent Change-34.2%
  • Assets ($M)$531,864.00
  • Employees268,220

It was a year of empire building and then consolidation at what’s left of the old Ma Bell. CEO Randall Stephenson finally got regulators to sign off on his $104 billion acquisition (including debt) of Time Warner in June 2018, despite President Trump’s objections. The deal—adding a movie studio plus the cable programming empire that includes CNN and HBO—helped boost AT&T’s revenue by 6% to $171 billion for the year. But continued customer losses from Stephenson’s last acquisition, DirecTV, and the heavy debt load hurt the bottom line and net income declined 34% to $19 billion. The company’s stock price dropped 27% for the year. Now the challenge is stemming the loss of satellite cord cutters while meshing the clashing cultures in the media and telecommunications sides of the business. Perhaps AT&T’s new super-fast 5G wireless network will come to the rescue. A slow rollout in parts of 12 cities at the end of 2018 should accelerate in 2019 and reach nationwide coverage within a few years.

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Company Information

CEO
Randall L. Stephenson
Sector
Telecommunications
Industry
Telecommunications
HQ Location
Dallas
Websitehttps://www.att.com
Years on Global 500 List25
Employees268,220
Acquired Time Warner (2017 rank: 379), June 14, 2018.

AT&T Rank History

Key Financials (Last Fiscal Year)

($ Millions)% change
Revenues ($M)$170,756.006.4%
Profits ($M)$19,370.00-34.2%
Assets ($M)$531,864.00-
Total Stockholder Equity ($M)$184,089.00-

Profit Ratios

Profit as % of Revenues11.3%
Profits as % of Assets3.6%
Profits as % of Stockholder Equity10.5%