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Tuesday, March 10, 2009

AT&T on Capital Expenditures in 2009

by Calculated Risk on 3/10/2009 01:56:00 PM

From MarketWatch: AT&T to spend up to $18 bln on capital expenditures in 2009

AT&T Inc. said Tuesday it plans to invest $17 billion to $18 billion in 2009. About two-thirds of expenditures are earmarked for expanding the company's wireless and wired broadband networks, AT&T said.
The story doesn't mention that AT&T spent $20.3 billion on capital expenditures in 2008, so the announcement today is in line with AT&T's previous announcement on Jan 28th:
Total capital expenditures for 2009 are expected to be down 10 to 15 percent versus 2008 levels.
I guess the good news is they didn't reduce their plans further!

Note: There will be a significant investment slump in Q1 2009, especially in equipment & software and non-residential structures.