John. Thanks,
from walking begin expected the by pandemic through financial X. Slide on impacts this Let’s
full recovery, this uncertainty guidance. magnitude the the and With have No the financial by withdrawn all one knows of caused and we COVID situation. duration prior
want all, running been come that healthy to to short-term to Through debt. and discuss. through about varying scenarios in continue we that expect moment, just test have growth provide different this several more to expect allow We some to recurring cash dividend We’ll there financial of are retire us coverage, to with allow a our talk first flow severity. stress degrees but it will in impacts we invest us areas, ample and and
most as the these fees a fees. reduction should late roaming well of In during revenues increase to reduction immediate late a start travel customers roaming more. economic of difficult in commitment times and The waiving mobility, as people gradually our to as are the impacts is
with was million, The the all quarter of of half approximately first it March. virtually impact these in $XX of items second
on closures gross store our digital but upgrades. and augmenting forecasting equipment to mitigate are the of lower We team adds still wireless are service sales and revenues, impact we
equipment In March. fact, year-over-year revenues were XX% nearly in down
the As result increase of debt anticipation across accordingly, $XXX COVID, a a of bad recorded an we various have and businesses, million in that. incremental anticipate reserve in expense
than broadband both seeing streaming HBO well a group, employees. At and such locations crisis we has entertainment will commercial the from demand from content WarnerMedia, subscriber we production Max pay has sports of in releases strong are anticipate and TV for launches as lower demand our temporarily unit costs more hiatus. This been restaurants. hotels, In for increases cord-cutting boost lower as on placed when we’re we’re and advertising increase been Labor quarter. and have providing in premium lower value costs revenues in it pickup in rights. postponed the month. important we revenues and and saw anticipate frontline from premium XX% the Theatrical as next Fiber bars, our ever entertainment shown
A of higher seeing total up for included which security. line do also the impacts investor revenues. on small wire expect negative a XX% schedule bandwidth demand business of is COVID We’re VPN business, in We our about impact and makes briefing. our detailed
X. our Now, on quarter let’s walk through highlights first Slide
to recover start the during the the quarter, and financial the Let’s half economy felt results, effect assuming summary. with full in expect second XXXX. businesses the to quarter of second be but U.S. we COVID first begin impacted
was includes For of which $X.XX share, first impacts. EPS $X.XX a COVID adjusted quarter, the about
year expect generally advertising Strong offset same to these $XXX Madness, of Warner the We At expenses. by wireless FX revenues. impacts the Much service of a were reductions this service had revenues, expense impact revenues, about wireless reduced in was lower income. COVID lower consumer by March a revenues video offset the operating tough nature. as corresponding mostly ago. time, from growth more lower Bros., impact and half reduced theatrical year-over-year revenues. on business be comparisons in impacts equipment and will and offset million legacy short-term from at on cancellation as Revenues than due of well down were
declined up operating adjusted fact, impacts. by In excluding income XX were but COVID points, margins when basis
generate $X billion. a provide priorities. operations in to ability allocation our at continues free cash for came cash and from was about billion Cash Our $X.X to strong foundation flow capital
The equipment flow timing the cash about billion first of sales. quarter quarter we is includes holiday our due that items free and $X employee working typically incentive year. timing to out balance lowest of for vendor this also capital payments compensation It expect later to
last the was We quarter the impacted of with $X that about retired of million and we last to year. billion, share also year. repurchases, cash saw consistent quarter we Prior costs shares the about retired shares fourth XXX nearly since the in COVID-related XXX flow. beginning CapEx free suspension million
the by at starting and in basis XXX the of our quarter. business The crucial in million our to revenue points. billion segment core quarter impact COVID more continues Mobility, or roaming $XXX be results. our top look to and than $X.X In revenue by in our $XXX EBITDA margins by results, in line see with the on by X%, EBITDA Slide due these times, X.X% about operating our grew equipment X. numbers service lower and million Communications expanded now Let’s resiliency did segment power we revenues. grew of
for wireless, subscriber broadband agreed terminate exclude this Our not non-payment. we to customers counts video and for service quarter who
that, subscribers more we’ll to be our churn million For phone in our deployment continues. expect points of X network and we nationwide was with has Even Postpaid those basis than treating summer. purposes, cover and net markets, drove are adds FirstNet industry-leading and this disconnects. phone postpaid XXX XXX,XXX. reporting down people We we XXX XG now X.XX%
now cash more group, added X generation focus. than AT&T serve Fiber In XXX,XXX and entertainment a million. our We remains subscribers
continue We growth ARPU to IP broadband. both in drive video and
subscriber EBITDA as in video focus launched we Business We net expectations up was impacts. and about even with sequentially. be sales. our mobility late value with AT&T total the Business was XX% Premium for with products EBITDA was by stable. and consistent grew in effective remaining in as channel managed growth on losses services. solid, premium wireline ARPU in wireline revenues trends margins legacy continued and fact, were video recent partially customers. were offset again with declines business In to an growth improved wireless, long-term Revenues X.X%. TV our COVID performance strategic nationally continue quarter to line Including
Now, on and theatrical specifically had into $XXX impact the which quarter. advertising, production around is COVID of launching EBITDA investment let’s on HBO revenue comparisons television some move theatrical impact and America results, next Madness, Altogether, cancellation in and delays. March X. HBO And about tough the and had a to month. the impact WarnerMedia $XXX million weighed we Max million are Max, a and COVID on and quarter, Slide the we sudden year-over-year of Latin Coming continuing knew
exchange Vrio EBITDA American work improvement. while and against continues Turning to show foreign to economic Mexico continues solid headwinds, to Latin our operations,
even improvement continue. quarter year-over-year EBITDA. $XX First economic generate improved Vrio this EBITDA and Mexico expect in million continues to we to environment, positive And
balance scenarios let’s Now, substantial our to a strong this the position, such are environment, plan and this. a and about company strong Slide XX how sheet effectively cash talk in capital We go liquidity. liquidity. economic has we Even managing for and as
done outcomes. to work range us happen of last few deal predict a the strong the While a years with wide year, we of do has the the can put what remainder none of in position going is us exactly we to macroeconomic over have know in
and assets sold our debt reduced pension of and plan assets. debt de-risked have our towers, non-strategic We restructuring
We on while choose our even capital expect investing access not flow projects. and economic do maturities able XXXX current after key free cash our environment. this cash cover still to to to this we And markets, if we in debt dividends year even hand expect to more through debt than be that in and
structure. approach take our of a to prudent and optimize continue we pull can We lot capital to a we have levers
agreement a is and $X.X we on to additional in billion revolver term always April, been. it competitive took rates flexibility place In our provide like loan has at
not We plans us provides do it significant now, on to long strength which from drawing have facility facility, to proceeds are is this of and no a history this billion have a Adding we financial sales. flexibility. but financial our $XX asset
real to should us in year expect monetizations this estate We and you billion and sales about close from CME, opportunities. continue to exploring expect $X other tower
operations second XXXX. We the Puerto expect in our of close of the half wireless Rico sale to
capital remain returning us opportunities allocation committed Our remain growth value the in priorities and strong in paying debt. our sheet for to down investing we dividends business the focused through to shareholders on now allows and to balance and future,
presentation. Mike, that’s our
for now are ready Q&A. We the
