AT&T (NYSE: T) continues to make progress fulfilling the tenets of its Project VIP initiative, announcing multi-billion dollar investments to expand both its consumer U-verse and business fiber service to more locations in Michigan, Missouri and Ohio.
In Michigan, the service provider invested almost $1.7 billion to expand its wireline and wireless networks between 2011 and 2013.
It expanded the reach of U-verse to 78,000 new customer locations and began lighting up an additional 5,512 business locations at 257 multi-tenant business buildings and business parks with fiber.
Over in Missouri, AT&T spent $2.55 billion over the past four years to upgrade its last mile network to bring U-verse services to 40,000 new customer locations and is delivering fiber-based connections to 7,700 business locations at 400 multi-tenant business buildings and business parks.
Finally, in Ohio it spent $1.6 billion to make upgrades to its wireline networks to support more U-verse residential customers and fiber-based services for businesses.
Between 2011 and 2013, the telco extended U-verse IPTV and broadband to 62,000 new customer locations and built fiber into 4,682 business locations at 204 multi-tenant business buildings and business parks.
Keeping track with its Project VIP rollouts is key for AT&T, particularly on the wireline side, where it continues to battle legacy service erosion.
During the fourth quarter of 2013, overall wireline revenues were $14.7 billion, up 0.3 percent sequentially, but down 1.4 percent from the fourth quarter of 2012 and 0.7 percent year-over-year.
Due to strong gains in U-verse, residential wireline revenue was $5.6 billion, up 2.9 percent from the fourth quarter of 2012 and 1.3 percent sequentially. In the business segment, next-gen services such as VPN, Ethernet, cloud and hosting grew 17.4 percent over the fourth quarter of 2012 and represent a $9 billion annualized revenue stream.