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Telecommunications Network Operators: 3Q23 Market Review

Telco revenues staged a recovery of sorts in the latest single quarter, growing by a slender 0.3% on a YoY basis to post $437.8 billion (B) in the three-month period covered by 3Q23 (July – September 2023). The growth in the latest quarter bucked the declining trend witnessed in the preceding seven consecutive quarters. The waning effect of AT&T’s spinoff of its WarnerMedia unit coupled with improved service revenue growth for many European telcos played key roles in the growth.

However, the slides in the preceding three quarters impacted revenues and their growth rate for the annualized 3Q23 period – they were...

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Matt Walker
Chief Analyst
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