AT&T's (T) financial performance in Q3 2024 shows a slight decline in operating revenues, with a total of $30,213 million compared to $30,350 million in Q3 2023, marking a decrease of 0.5%. The operating income also saw a significant drop of 63.4%, from $5,782 million in Q3 2023 to $2,116 million in Q3 2024. This decline is attributed to various factors, including asset impairments and restructuring costs.

The Communications segment, which includes Mobility, Business Wireline, and Consumer Wireline, reported operating revenues of $29,074 million, a slight decrease of 0.6% from the previous year. Mobility revenues increased by 1.7% to $21,052 million, driven by subscriber gains and ARPU growth, while Business Wireline revenues declined by 11.8% to $4,606 million. Consumer Wireline saw a modest increase of 2.6% to $3,416 million.

Strategic initiatives include the transformation activities focusing on simplification and cost reduction. The company recorded one-time revenues of approximately $90 million due to the alignment of administrative fees. The Mobility segment's operating income margin improved from 32.7% in 2023 to 33.3% in 2024, reflecting effective cost management and pricing strategies.

Growth drivers for AT&T include the increase in Mobility subscribers, with total Mobility subscribers reaching 116,066,000, a 2.8% increase from the previous year. Postpaid churn rates improved, indicating better customer retention. However, equipment revenue decreased due to lower wireless device sales volumes.

Risk factors highlighted in the report include potential litigation, regulatory changes, supply chain disruptions, and economic uncertainties. The company is also focused on managing the transition from legacy technologies to IP-based infrastructure and addressing competition from lower-cost service providers.

AT&T's Latin America segment reported a 3.0% increase in revenues to $1,022 million, driven by growth in Mexico. However, the segment's operating income was minimal at $10 million, reflecting challenges in the region.

The corporate segment reported a loss of $654 million, an improvement from the $725 million loss in the previous year, due to reduced transaction and other costs.