4/28/2016 Investor’s Business Daily
AT&T said it added 529,000 wireless subscribers in Mexico in Q1, with one-fourth the higher-spending postpaid customers who are billed monthly. Late Tuesday, AT&T reported that its Q1 operating loss was $251 million, amid network investments and subscriber acquisition costs.
“This is now the second consecutive quarter with 500,000 plus net adds, giving us confidence in the execution of the strategy abroad,” said Amy Yong, a Macquarie analyst, in a report. “Profitability is also expected to improve by the second half of 2016. We expect free cash flow contribution could come as early as 2017.”
AT&T and America Movil both acquired more radio spectrum in a radio spectrum auction held by the Mexican government last quarter.