AT&T adds more wireless subscribers in 5G push, HBO Max gets more viewers

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The corporate brand for AT&T is displayed on a display on the ground on the New York Inventory Alternate (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid

Oct 21 (Reuters) – AT&T Inc’s quarterly income and month-to-month cellphone invoice paying subscriber additions beat market expectations on Thursday, on elevated demand for its cellphone and web service and regular development for its streaming platform HBO Max.

Whole income fell 5.7% to $39.9 billion within the third quarter in comparison with a yr earlier as a result of divestment of satellite tv for pc TV supplier DirectTV. But it surely exceeded analysts’ common estimate of $39.14 billion.

Telecom operators, together with AT&T and Verizon Communications Inc , have been unwinding their costly media companies to direct their funding on cellphone and web providers.

With a debt pile of $179.2 billion as of Sept. 30, AT&T too has been below stress to promote much less worthwhile companies and spend extra on 5G and different wi-fi providers.

These investments have paid off because the wi-fi provider added 928,000 web new cellphone subscribers who pay a month-to-month invoice, above quarterly expectations of 560,000, in line with information from analysis agency FactSet.

Rival provider Verizon added 429,000 subscribers in its newest quarter.

Media corporations have additionally been attempting to beat competitors and develop by investing closely in content material and worldwide enlargement.

Whereas streaming providers have been grappling with slowing subscriptions, AT&T added 12.5 million subscribers globally for its premium TV channel HBO and streaming service HBO Max as viewers flocked to titles like “White Lotus”, and “The Suicide Squad”.

Internet earnings attributable to the corporate’s frequent inventory rose to $5.9 billion, or 82 cents per share, within the quarter, from $2.8 billion, or 39 cents per share, a yr earlier.

Excluding objects, AT&T earned 87 cents per share.

Reporting by Eva Mathews in Bengaluru and Sheila Dang in Dallas; Modifying by Arun Koyyur


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