![]() Net income attributable to the company's common stock rose to $5.9 billion, or 82 cents per share, in the quarter, from $2.8 billion, or 39 cents per share, a year earlier.Įxcluding items, AT&T earned 87 cents per share, beating analyst estimates of 78 cents per share. ![]() In May, AT&T announced it would spin off its media assets in a $43 billion deal with Discovery, marking the end of its goal to become an entertainment powerhouse. Revenue for WarnerMedia was $8.4 billion during the quarter. Total global subscribers for AT&T's premium TV channel HBO and streaming service HBO Max grew by 1.9 million from the previous quarter to 69.4 million, as viewers flocked to watch television shows like "White Lotus" and superhero movie "The Suicide Squad". Media companies have also been trying to beat competition and grow by investing heavily in content and international expansion. Rival carrier Verizon added 429,000 subscribers in its latest quarter. ![]() These investments have paid off as the wireless carrier added 928,000 net new phone subscribers who pay a monthly bill, well above quarterly expectations of 560,000, according to data from research firm FactSet. 30, AT&T too has been under pressure to sell less profitable businesses and spend more on 5G and other wireless services. With a debt pile of $179.2 billion as of Sept. Telecom operators, including AT&T and Verizon Communications Inc, have been unwinding their expensive media businesses to direct their investment on phone and internet services. In the U.S., AT&T’s wireless and broadband business is a key distributor of HBO Max, representing about 25 of subscribers, according to the company. ![]() Total revenue was $39.9 billion in the third quarter, exceeding analysts' average estimate of $39.14 billion, according to IBES data from Refinitiv. Shares of AT&T rose 1% to $26.17 in pre-market trading. (Reuters) -AT&T Inc's quarterly revenue and phone subscriber additions beat market expectations on Thursday, on increased demand for its phone and internet service and steady growth for its streaming platform HBO Max. ![]()
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