AT&T Inc. (T, Financials) Chief Executive Officer John Stankey outlined the company's strategic focus on fiber infrastructure expansion, cost efficiency, and competitive positioning during the Morgan Stanley Technology, Media & Telecom Conference on Tuesday.

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Stankey spoke about AT&T's initiatives to phase out outdated technology, invest in internet and cellular growth, and simplify its operations with Morgan Stanley analyst Benjamin Swinburne. To stimulate long-term development, he said the corporation has spent four years reorganizing its operations.

Expanding its fiber network is still a top priority for AT&T as it sees this as the basis for maintaining development in both consumer and commercial sectors. Stankey said fiber was the greatest technology available to satisfy growing demand for high-capacity networks. The corporation keeps extending its fiber presence and improving network efficiency to position itself for long-term competition. For AT&T's Mobility business segment, the company expects its wireless service revenue to grow within the range of 2% to 3% for the full year, with a stronger likelihood of hitting the higher end of that range (closer to 3%). Mobility segment EBITDA growth is also projected to be at the higher end of the 3% to 4% range.

Along with efforts at customer retention, AT&T has been working on a program meant to improve openness and service quality. The corporation views this as a crucial component of its long-term plan to improve the position of its cellular and broadband markets. Dealing with competition in the broadband market, Stankey said AT&T's fiber offering offers a competitive edge over cable companies. He pointed out that conventional cable providers struggle to keep pricing power while providing a product inferior to broadband derived from fiber-based technologies.

With plans to phase out some of its old infrastructure, AT&T is also advancing; this change the firm hopes to complete by 2029. Representing almost a quarter of its wire centers, the business has applied to decommission 1,300 wire centers with the U.S. Federal Communications Commission. Stankey said this change is meant to upgrade AT&T's network and increase cost effectiveness by removing outdated infrastructure. Although the company's commercial wireline division is still declining, he showed hope that AT&T will ultimately bring it back to growth. As part of this change in distribution strategy, the corporation is stressing fiber-based services. Although the division may not experience immediate income gains, he said the business keeps closing the difference and anticipates reaching an inflection point going forward.

Recently, AT&T said it intends to start share buybacks later this year, therefore deviating from its conventional emphasis on dividends. Stankey said the business sees repurchases as a means of producing shareholder returns as it believes its stock is underpriced. He also said that AT&T issued a lot of shares in earlier deals that are no longer part of the business and thinks lowering the share float would help owners. The firm is still dedicated to natural expansion and controlled capital allocation, but if smart acquisitions fit current investment goals it is willing.

With a three-year financial plan stressing execution, cost control, and network growth, AT&T has presented. The corporation thinks its present approach sets it for long-term shareholder value and steady expansion.