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More on AT&T: 2014 and 2015 capex guidance lowered by $2B for each year to $20B. 296K...

More on AT&T: 2014 and 2015 capex guidance lowered by $2B for each year to $20B. 296K wireless postpaid net adds, but only due to 365K tablet adds; 184K prepaid net losses. 232K U-verse net adds, total base at 8.7M. 124K wireline broadband net adds. EPS boosted by $5.9B in buybacks; pace expected to slow. Wireless sales +3.4% Y/Y; data services +21%, other services -3.8%, equipment +3.8%. 10M postpaid subs on shared data plans; 72% of postpaid subs use smartphones. Postpaid ARPU rose 0.9% Y/Y. Postpaid churn of 1.04, down from 1.19% in Q4 and 1.10% in Q1 '12. Wireline revenue -1.8%; data +4.6%, voice -9.9%. T -2.6% AH. (PR) (slides)

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