AT&T Inc.

Ladies and gentlemen, thank you for standing by. Welcome to the AT&T Third Quarter 2020 Earnings Conference Call. At this time, all participants are in the listen-only mode. If you should require assistance during the call, please press star then zero, and an operator will assist you offline. Following the presentation, the call will be open for questions. If you would like to ask a question, please press 1 and then 0, and you will be placed into the question queue. If you are in the question queue and would like to withdraw your question, you can do so by pressing 1 and then 0. And as a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Amir Razwadowski, Senior Vice President, Finance and Investor Relations.

Please go ahead. Thank you and good morning, everyone. Welcome to our third quarter call. I'm Amir Rozbudowski, head of investor relations for AT&T. Joining me on the call today are John Stanky, our CEO, and John Stevens, our chief financial officer. Before we begin, I need to call your attention to our safe harbor statement, which says that some of our comments today may be forward-looking. As such, they're subject to risk and uncertainties. Results may differ materially. And additional information is available on the Investor Relations website. And as always, our earnings materials are also available on the Investor Relations page of the AT&T website. I also want to remind you that we are in the quiet period for the FCC Spectrum Auction 107, so we cannot address any questions about that today. With that, I'll turn the call over to John Stanky. John?

Thanks, Amir, and good morning, everyone. I hope you're all healthy and doing well, and thank you for joining us this morning. John and I are going to keep our comments brief so we can spend more time taking your questions, so let's start with slide three. First, our industry-leading network is the driver of our strong wireless customer accounts and our healthy broadband and enterprise trends. Our high-quality network underpins our connectivity business and our commitment to customers. Ookla last week ranked AT&T number one for having the fastest nationwide 5G network. And for the seventh quarter in a row, we won the overall fastest wireless network and were named fastest wireless network for iPhones in the third quarter. J.D. Power last month named us tops in customer satisfaction for residential internet service in every region we offer that service. The net promoter scores we're achieving with our fiber product are materially better than cables and are helping drive increasing penetration rates across our markets. I'm really pleased with the great execution from our AT&T communications team led by Jeff McElfresh under some really challenging circumstances. Second, the transformation of our business continues and is on track with how we set this up for you a year ago. The organization has been working to reduce costs, streamline distribution, remove redundancies, and simplify processes and support functions. Our focus is supporting added customer value with an improved customer experience. Accordingly, these efficiencies are being plowed back into growth in our market focus areas. And third, we're committed to further strengthening our balance sheet and maintaining our deliberate capital allocations. We've made material progress this year with our debt management while generating solid free cash flow to support our dividend. John will provide more detail, but you're seeing a sharply focused capital structure that is strong, resilient, and efficient. We also have a very pragmatic view of the broader economic picture and the COVID-driven challenges we face in some segments, particularly WarnerMedia. In a COVID environment with a tough theatrical business, we made important organizational moves that further positioned us for growth in direct-to-consumer streaming. Through the pandemic, we continued to invest in HBO Max and continued to grow total HBO and HBO Max subscribers. I'm pleased with how the WarnerMedia team is responding to a challenging environment. In closing, We recognize that we have more work to do in executing on our vision and earning the loyalty of our customers and investors. I believe this quarter shows we've taken the first few steps in the right direction, but there's more opportunity ahead. With that, I'll turn it over to John to quickly review the details of the quarter.