Coronavirus is disrupting the way we live and work.
Yet AT&T (NYSE: T) says its plans for a robust 5G rollout are right on track.
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“We have stated we will have 5G nationwide by midyear, and we have not seen any change in that,” explains AT&T CEO Scott Mair.
AT&T reports that usage is up across its network. The nation’s #2 wireless carrier says voice calls are up 33%, instant messaging is up 63% and video usage is up 4%.
Video usage accounts for over 50% of wireless network usage. However, its growth may be slower since more people are at home and connecting via WiFi.
The biggest growth in usage is from audio and video conferencing through tools like Skype and Zoom (NASDAQ: ZM). Video conferencing usage is up 400% since before the outbreak.
The company says its current 4G network is running smoothly.
Meanwhile, AT&T won’t let the coronavirus derail plans for the 5G rollout.
In early March, the company announced that it was canceling its stock repurchase plan. The company had planned to buy back $4 billion of stock between April and June.
The company-issued press release explained that AT&T has “decided at this time to cancel repurchases to maintain flexibility . . . and enhancing our network, including nationwide 5G.”
The move to postpone the stock repurchase program may be designed to please politicians in Washington.
That’s because Congress is already drawing up plans for another $1 trillion stimulus bill. The bill would focus on infrastructure projects designed to jumpstart the U.S. economy and create jobs.
The bill would likely include federal government funding for highways, water projects and telecommunications infrastructure – including fifth-generation wireless networks.
AT&T, T-Mobile and Verizon would clearly be at the top of the list to receive government funding.
So, it’s important that these companies stay in the good graces of Congress and the Trump administration.
It’s clear that 5G remains a top priority for AT&T. And with a little help from Washington, the 5G rollout will become a reality in 2020.
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