AT&T's Connection with Investors

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AT&T’s Complete 2009 Annual Report displays the company’s accomplishments in the past year in a very creative way. Instead of just listing their results (which they do at the very end), it starts with Chairman Randall Stephenson’s well-written letter to the investors. This letter invoked a very positive and motivational tone yet was still straight and to the point and believable. I especially like the section that focused on the future and AT&T’s strong position looking forward because it shows that AT&T is continuing to be innovative and grow. If I was an investor in the company, after reading this letter I would feel confident and satisfied that my money is strongly invested in a company that has a good growth strategy and is proactive, ambitious and strategic.

AT&T’s annual report is clearly more than just numbers and statistics; it is a well laid-out and highly effective marketing communications piece filled with appealing pictures, customer and business testimonials, company year accomplishments, anecdotes, community relations stories and more. Although a bit long, at least the first 30 pages are an “easy” read. I have not read many several annual reports, but I’d assume some are rather unbearable to read! The remaining 70 pages are AT&T’s “2009 by the Numbers”, something I, to be honest, had a more difficult time paying attention too. I think the goal for the first 30 pages is to present all of AT&T’s information in a user-friendly and easy to understand format which is attractive and informative not only to current investors but to AT&T customers, everyday consumers and even prospective future investors. These pages are also what is available in AT&T's online version of the annual report. By just reading these pages, these people can get a good idea of how well the company did in 2009. If the reader wanted to continue on to see the exact numbers, they could!

Something that I thought which added a lot of “color” to the annual report was a section titled “An Hour in the Life of the AT&T network,” (p. 26-27). This entertaining consumer-focused story showcases many of the practical daily applications of AT&T products and services and how they enhance the lives of AT&T’s consumers by simplifying their daily tasks. As someone who is not an AT&T customer, by reading this story I learned about products that I didn’t even know AT&T carried. One example was the “AT&T Family Map” which allows parents to keep track of the location of their children via phone GPS capabilities- a little creepy to think about but a nifty idea! Therefore, this proves to be effective in educating both investors and consumers about the real-life applications and benefits of AT&T’s products.

Similar to AT&T’s annual report as a whole, I feel that the press release announcing their fourth quarter earnings was very user-friendly and easy to read as well as interesting and engaging. The quote from AT&T’s CEO Randall Stephenson summarizes the very positive, upbeat and forward looking tone of the whole release. Stephenson said “We had a solid 2009 and led the industry in the biggest growth driver — mobile broadband. Looking ahead, customer demand for connectivity, particularly mobile broadband and IP data, continues to be strong, and AT&T is well positioned at the center of this growth." I believe that this quote would definitely instill confidence in investors. It is both innovative, forward looking and ambitious in terms of where AT&T sees itself in the future by continuing to grow and expand.

All and all, I believe that AT&T annual reports are proof of how the company truly believes in their mission to connect all people to their worlds. I think that the report’s first 30 pages, because of their straightforward tone, easily understood language, and positivity are aimed at reaching a wider audience than simply AT&T investors; they speak to anyone who uses AT&T products or has an interest in the company regardless of their affiliation. Thank you AT&T for making a long, never-ending report fun with attractive photos, inspiring customer stories and cute anecdotes. It made the hard-stuff less painful to get through and more interesting to read. For those interested, AT&T is holding a web cast announcing their first quarter earnings on April 21 at 10:00 a.m. ET.