Demand for fiber to support the technology boom will continue to grow and companies are moving quickly to scoop up existing networks. AT&T has been actively working towards expanding its network through organic build, acquisitions and partnerships, Pascal Desroches, Senior Executive Vice President and Chief Financial Officer of AT&T told Jennifer Fritzsche, Managing Director, Technology, Media & Telecom, Investment & Corporate Banking, Mizuho Americas, during the Mizuho Technology Conference on June 10, 2025. The company is focused on providing top-tier customer service through its growing fiber network while continuing to deliver shareholder value.
Fiber and Delivering Shareholder Growth
Over the next decade, the demand for connectivity will continue to increase significantly and fiber is the most efficient way to deliver that connectivity, Pascal Desroches told Jennifer Fritzsche. AT&T will be able to serve customers through investments in fiber networks which will provide lower-cost connections, while rewarding shareholders through dividends and buybacks.
Fiber Expansion Through Acquisition and Joint Venture
Companies are jockeying for viable fiber locations and most of them will be spoken for by the end of the decade, Pascal Desroches told Jennifer Fritzsche. AT&T will leverage their acquisition of substantially all of Lumen's Mass Markets fiber business and joint venture in Gigapower with BlackRock to build out their fiber network.
Service Revenue Growth
Subscription numbers can be deceptive. AT&T has garnered the most share of service revenue growth in the last few years, apart from fixed wireless, Pascal Desroches told Jennifer Fritzsche. “If it’s not translating to service revenue, it can be viewed as empty calories,” he said.
Watch the full keynote with Pascal Desroches below: