AT&T Prospectus: A Comprehensive Guide to Investing in the Communications Giant

Introduction

AT&T Inc. (NYSE: T) is a global leader in the telecommunications industry, providing a wide range of services to consumers, businesses, and government agencies worldwide. With a market capitalization of over $200 billion, AT&T is one of the largest companies in the United States.

This prospectus provides an overview of AT&T's business, financial performance, and investment prospects. It is intended to help investors make informed decisions about whether to invest in AT&T.

Business Overview

AT&T operates in three primary business segments:

• Communications: Provides wireless, wireline, and broadband services to consumers and businesses.
• WarnerMedia: Creates and distributes entertainment content, including movies, television shows, and news.
• Xandr: Provides advertising and analytics solutions to businesses and marketers.

Financial Performance

AT&T's financial performance has been solid in recent years. The company has consistently generated strong revenue and earnings growth.

• Revenue: AT&T's revenue grew by 3.5% in 2021 to $171.8 billion.
• Earnings per Share: AT&T's earnings per share grew by 12.5% in 2021 to $4.29.
• Free Cash Flow: AT&T's free cash flow grew by 10.3% in 2021 to $46.3 billion.

Investment Prospects

AT&T is a well-positioned company with a strong track record of growth and profitability. The company's investment prospects are favorable for several reasons.

• Market Leadership: AT&T is the largest wireless carrier in the United States and the second-largest broadband provider.
• Diversified Business: AT&T's diversified business model reduces its exposure to any one market or industry.
• Strong Financial Performance: AT&T has a strong financial foundation with consistent revenue and earnings growth.
• 5G Network: AT&T is investing heavily in its 5G network, which will provide faster speeds and greater capacity for customers.

Risks

• Competition: AT&T faces competition from other telecommunications companies, including Verizon, Comcast, and T-Mobile.
• Regulatory Changes: The telecommunications industry is subject to regulation, which can impact AT&T's business.
• Technological Disruption: The rapid pace of technological change could disrupt AT&T's business if the company is not able to adapt.

Investment Conclusion

AT&T is a well-positioned company with a strong track record of growth and profitability. The company's investment prospects are favorable, and it is a good choice for long-term investors.

Table 1: AT&T's Key Financial Metrics

Table 2: AT&T's Quarterly Revenue by Business Segment

Table 3: AT&T's Debt and Equity

Table 4: AT&T's Dividend Yield