morning, Good everyone and Randall. thanks for being on Thanks, the call.
our with summary is Slide begin financial X. me Let which on
results most few in done be referring previous we'll to next the for slides. quarters our for we've segments comparable of As
basis. fees full And I'm we've these the have rolled this on be and through call These flows. made service happy way, company regulatory cash was XXXX that new quarter our and same pension impact receivables. with to statements deal the income to the time record of For policy decision that the fees a and add should At open required AT&T to accounting other a this to adopt accounting universal year we'll last changes cost standards, as recognition, changes. revenue instalment
more quarter and for the than $X.XX XX% adjusted more Let with fourth for me EPS than year. earnings, start XX% the quarter was up
For was due rate a strong acquisition generally standards performance Gains XX%, legacy billion, drove services, of of the Time and pro a basis, and $XX forma million effective exchange up the by by and Mobility was transition sales. Warner. video our Consolidated declines and by and were smartphone revenue revenue foreign thanks revenue tax the in quarter, WarnerMedia’s year-over-year exchange basis business recognition equipment comparable pressures. On $XXX Revenue impact exchange benefits year-over-year due results. to equipment to lower wireless were revenues a mostly The offset from from to Latin at in foreign of down adoption offset look Mobility’s comparative these in came quarter the America. wireless in on pressure fourth the fewer WarnerMedia higher you When entirely pressure. foreign down
basis In expand fact, margins [ph] those up operating [XXX] consolidated growth and continued impacts with without in were and growth positive. revenues to WarnerMedia Mobility adjusted strong income Operating showed points solid margins.
financial but margins the equity comes the item of basis turned cash with video preferred an in our For That year on million back and about customer success in preferred the income XXXX, even from Mobility in the now to our is interest statement pressure to business. One we grew we growth other by XXX flows adjusted in the housekeeping margin return perhaps full strong the offset income interest transition pension contributed plan related points. quarter Earnings best fourth operating margins where in reflected that with record measure in non-controlling our growth, $XXX income. is showed results. our
really and from Slide at the Both that on operations cash important. Let's X. free This our record is for levels year. look flow hit cash full
ratio has plans payout the billion in you that's of with that a cash $XX.X flow year flow the capital reflects meet to invested we other in our receivable standalone was that investment. company does FirstNet payables, Investors billion on The our out, us, made XXXX allowed had and XX business, pay our as working For a US. year continue coming $X.X we impact raised expect cash dividend free that commitments important dividend capital include strong of for a investment the to us since a and full and company our benefit to $X.X strong million is if voluntary in free in nearly cash depends strong to contributions business to in flows the is managing capital a invest receipt a $XX in strong include past fourth quarter. also in dividend became contract results we XX% which to That Year up accounts history year $XXX It flows need strong reimbursed. dropped XXXX a in no Free were we're a quarter. the like our to our a to we near delever of to capital consistently pay have with years. from shareholders. our variety in Equally of This record record from long efforts. XX% returning fourth and we nearly a one XXXX, billion dividend. proud solid includes leader we us different, for vendor goals to ability meet of in billion XXXX. to that our FirstNet value we our cash comes cash and this
our our commitment generate also position. part flow cash of ability to is Our strong critical improve a to leverage
that an update you give X. on me Let on Slide
made, our we was $X get by Time X.X paying the goal that ‘XX. about closed we down to know range deal. by the Well leverage to You commitments since did end we our the of Warner billion
by of this to drop range Our goal is even next end lower the year. the to X.X that
in our us we'll cash Our XXXX strong significantly and confidence able flows delever. flow free be to free cash XXXX achieve gives
committed to We year. $XX very dividends the debt. get the also ‘XX. X.X That Most we've centers dollars use monetizeable cash in in end asset We've in to in to the We've flow alone data sale ways monetize after of years. of of identified down other recently of the will expect moves us pay free assets. closing that made We've billions thoughtful billion range finding about by and several it our to recent our billion and large portfolio. $X.X deliver been
a have potential amount office that buildings large we've of identified for land raw We and sale.
on another we'll for to ways asset Our in look our billion progress. updated continue monetize you keep assets Hulu investment total than to and portfolio is with more $XXX our opportunity
on And remain billion $X strength billion synergies return financial target, achieve our bottom will revenue run billion in They to solid Our our our end contribute. to of in line, also and continue $X.X by in shareholders. the and cost, for allows continue rate to business targets, to $X.X dividends a our invest leverage merger XXXX.
had by is Mobility, sharply entertainment a our was X% XXX segment talk million of our ever driven them and was won't Obviously driven the wireline which quarter our million. to margins effectively adds XXX more on highest on grew we Mobility. value revenue point segment. base. our strategic performance last starting our service fourth XXX,XXX Service success. of we off promotions, or Together in customers. turn and Let's over disciplined quarter focused to by That's XXX,XXX quickly net up basis in were consists communication margin up on strong with now able $XXX XX.X. quarter. revenues hesitate to were branded year promotions EBITDA points, had and cost added an That volumes results compete. nearly Slide where improvement. great even this the with a basis profitability We growth, smartphones EBITDA information with by for expanded our Communications business and and $XXX by points Mobility than opportunity, We continued than segment more high EBITDA in we XX. XX% EBITDA units. or service And grew results see lower phone postpaid and to But quarter with especially last performance be we to
momentum this than cost discipline our from and quarter, million our added we have see about subscriber passed continues cricket solid holding revenue of where offset line base business. in Please uneconomical many since strength what XXX,XXX spending of cricket grew which includes the to loss earlier month to subscribers we postpaid strong. XX customers. equipment was That our that prepaid thanks value Even against acquired characteristics Prepaid saw competitors. mark, a by discipline, generate net promotions our also phones be and about prepaid. more cricket of we the to AT&T the our with in You the from similar note doubling growth XX% ads our subscriber XXXX company our the in prepaid
about We significant of made XG told in also fourth leadership the introduction. you in Randall strides network quarter. our evolution our network in
carrier when adding, we're spectrum to aggregation standard better additional and speeds the other our compared evolution today With XG producing LTE. network for is customers improvements,
results. providing tailwind deployment net for critical first is Our mass our a reaching and
let's taking Group we're Entertainment stability. Now the bring steps look results EBITDA our at to and
slowed in DTV customers year and million improvement promotions a pressured decline NOW year-over-year sequential showed fourth nearly fourth driven primarily rates seasonally by was in as a reduction This profitability. even Our as quarter. $XXX on in EBITDA the quarter, growth in improvement a two by well a
We stabilize EBITDA throughout year the helping in expect revenue performance continue to XXXX.
highly essentially service. EBITDA on year We none confident are Eliminating promotions churn to streaming promotions this an months these customers and driven ago the on had content first on discounted for month losses a DIRECTV for year-over-year making with data $XX that low NOW improvement EBITDA costs. it see half of will is we a starting the officers. of tailored those generally clearly we Six subscriber these had quarter. quarter, end offers, in pay the customer and but in the approach stabilize value, year a results it remained real expect ARPUs offers customers A high elevated more impact of the positive million the customers impact. require At lowered
ARPU DTV from up NOW sequentially $XX the quarter. In about was fact third
to This continues footprint drive million locations X to with will as fiber our and That more all network laser content. another to fiber on key now costs, Our revenue on million in hit extend fiber locations in later our too grow. helping the including XX way rates we're broadband passed We market year. are penetration and the this always, million XX This stability, our of the year, is higher focus growth, than customers drive to more go. locations XX our have of our total EBITDA. business and in efficiencies fiber the annualized performance the million, network offset at stabilizing substantially costs the focused will grow more helps that when by footprint last revenue fiber of Subscribers million business. to broadband the fiber play X in a billion wireline, to big number on than declines. X driving and include Cost longer business the our increased customer we continue role strategic story business services legacy continuing EBITDA than plus
on the us focus to deliver Our revenue margins initiatives with cost even legacy allows declines.
operating adjusting adult. across primarily propel at income eight up Turner Turner domestic racked theatrical the and International young grow to continue advertising XX. WarnerMedia continue has Born foreign best affiliate results. theatrical to Grindelwald, revenues. ever. delivery International past exchange declined grew spotlight is networks, with it its that’s operating business saw at quarter Oscar in and Warner were even That information growth be with solid box Star Brothers or on for decline. television is receipts ad movies, Turner's the full in the Now when exchange of X% including Aquaman nominations. Turner mark Aquaman revenues quarterly had to lowered great income three WarnerMedia’s Fantastic subscription is across while Warner nearly let's of quarter this business. billion and pressure revenues look for gains X% to fourth The to units. revenues great revenues Beasts: Slide Total flat We Subscription a had foreign Crimes a quarter, and thanks year double-digit both ratings due global Born, to cash on back office critically in higher film all Brothers and Mule. its slate rates, are solid kids pressure. strong The Networks. of acclaimed in saw essentially date Star a and the various X generation This helped rates Domestic even fourth a ad year the
operating solid income However X%, HBO’s still results a management XX%, impacted and dispute nearly to primarily without Turner's from the quarter. the programming dispute, double-digit in that income was solid down saw higher marketing the been focus due internationalizing revenues programming due XX% and lower income quarter. a revenues reflecting have and a HBO control up and due but to grow XX% was on Even expenses operating rose HBO Subscription up dispute, to expect of revenues were in ongoing by dispute, expense carriage control revenues. carriage other would revenues to XXXX. costs. expense with operating we subscription in sharp Content slightly. distribution up
final for earlier Awards nominations, excellence a received note, Born. XX Golden including Star continue top recognized producing comes Globe of As This WarnerMedia be WarnerMedia Award to four companies this high quality is A their a entertainment. month. for Academy on in
premium to integrate on driving advertising AT&T’s efficiencies moving inventories Much same At marketplace. on Xandr the of We're quickly enabled spending marketplace Xandr how AT&T. time, digital programmatic our is platform, across campaigns. activate our built and rich yield XX. we moving the Xandr’s We America opportunity. strong XX% higher and execute Now advertising results slide to capabilities or to ad EBITDA a grew revenues Latin without AppNexus Total very on margins continues our that can our EBITDA are heads that on at continue let's growth that look attributed The platform the and talent. making this Much best-in-class be strengthen to and data, high a data advertising and ad the and better with were to technology continue power Xandr inventory AppNexus. and even XX% data excluding season. digital new about track. optimistic political driving of is level. technology But Turner's available business revenues data grow our strong. with demand. significantly. AppNexus industry advanced started of Xandr, analytics to at we're integration for up is marketplace XX% be to and
to distributors, billion of advertising to Frontier and onboard of X and spend more. with third We across - power Altice working work our and us. most AT&T is confidence publishers through buyers and we're digital platform, working Already add success parties. which from gives Our
to international of side Moving the business. the
operation year. quarter, had Venezuela deal in million the revenues revenues impact a foreign we Mexico decision down we would Our Latin service a to and a than Nextel, revenues million year-over- - quarter inherited growth well have that impacts in comparable basis. year. year-over-year, Latin primarily pressure. continue impacted subscriber made foreign fourth America that at more were to higher million have with due with Total in up exchange. business more XX.X million. Without down grown operational were we on South non-recurring we XX some America expense from X.X excluding pressures. exchange those XXX,XXX due subscribers In were as now operations amount was Mexico of foreign Region. subscriber end and customers had shut items. full Without Service largely down to new and TV, the for subscribers a X% Total of EBITDA net wholesale including Pay total. the largely gains to a as than In but quarter ads significant revenues FX strong exchange the EBITDA were by were We the
satellite While America the FX and profitable continued generate Latin be to operations, impact business our did cash.
Now let's our Slide on look at guidance XX. XXXX
said our important flow analyst remains cash meeting. will November most be guidance financial metric. Our we from our unchanged in what Free
dividend ratio XXXX cash solid and flow range in to We expect free in range. billion payout keep high XX% we'll $XX our
end year. As adjusted to on earlier, achieving X.X the we times debt by of we tightly range discussed EBITDA net the are focused
business growth to to in we $XX before for. investment with continue that of $X million also expect will range. in investment FirstNet levels be capital That's the billion to invest the reimbursed dollar high expect our which reducing spending, We by at
headwind EPS for expect new digits still a low we of While the growth single in impact XXXX. expect recognition year-over-year the the adjusted be to to revenue earnings, we standard
any item. in We be excluding That's effective XXXX one-time expect to tax approximately our our presentation. rate XX%
turn it for I’ll back Now session. Mike to a question-and-answer
