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AT&T Drops 233000 Video Subs in Q1

26 April 2017

Stephenson also answered a question about AT&T's DirecTV satellite business, which has been bleeding subscribers along with other traditional pay-TV services as cord-cutting gains in popularity.

AT&T, the biggest USA pay-television operator after its $49 billion acquisition of DirecTV, reported its video business lost 233,000 customers in the quarter.

The carrier posted 2.1 million overall wireless net adds in the USA, however, driven primarily by prepaid and connected devices, and other 633,000 net wireless adds in Mexico. Phone additions are considered important because they are the most lucrative mobility accounts, and customers with postpaid phone accounts tend to stay longer. AT&T said in a statement to ZDNet that it is evaluating its next move. In the competitive consumer wireless market, AT&T has been focused on retaining its most profitable customers and shying away from promotional offers to grab market share.

First-quarter profit was $3.5 billion compared to $3.8 billion for the year-ago quarter.

Overall, AT&T said it earned $3.47 billion in the first quarter and 74 cents per share, after items, which is in line with the expectations of analysts.

Missed revenue estimates. The company saw revenue figures of $39.4 billion, just falling short of our consensus estimate of $40.660 billion.

AT&T Drops 233000 Video Subs in Q1

AT&T today reported revenues of $39.4 billion, operating income of $6.9 billion and net income of $3.5 billion in Q1 2017.

AT&T in October agreed to buy Time Warner Inc., a tie-up that would transform the phone company into a media giant and make it less dependent on the lagging phone business.

The company added 115,000 total broadband subs in Q1 as it added 242,000 IP broadband subs amid continued losses of DSL subs.

AT&T is in the midst of acquiring Time Warner for $85 billion, and the telecommunications company said Tuesday that it expects approval from the U.S. Department of Justice this year.

The stock, though, reacted favorably to Tuesday's earnings report, rising 1 percent in after-hours trading to $40.18.

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AT&T Drops 233000 Video Subs in Q1