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AT&T’s wireless business is growing, but it’s premium TV subscribers decline

(Reuters) – AT&T Inc (T. N) on Wednesday beat Wall Street’s estimates of net wireless subscribers who pay a monthly bill for the account of any growth in a saturated market, and continued to beam media content from Time Warner’s new wireless plan.

The AT&T logo is seen on a monitor on the floor of the New York Stock Exchange (NYSE) in New York City, USA, June 13, 2018. REUTERS/Brendan McDermid

However, the telecom giant that has lost more of the premium TV to subscribers over the prior three months, such as pay-TV operators fight for customers, as viewers move to streaming services such as Netflix Inc (NFLX.D).

AT&T has lost 778,000 premium-TV subscribers, as a category, with DirecTV satellite, U-verse tv customers, more than 544,000 loss in the first quarter of the year. The company has lost 168,000 streaming, DirecTV and Now accounts.

However, the second-largest U.S. wireless carrier by subscribers added a net 72,000-phone subscribers, more than analysts ‘ estimates of more than 27,000 subscribers, according to research firm FactSet.

AT&T closed on its $85-billion acquisition of media company Time Warner in June of last year, with the creation of a new business segment, referred to as WarnerMedia to the house’s assets, including the Turner TELEVISION networks and the premium channels HBO.

The new WarnerMedia segment of the market, in which the victory, and premium TV channels and HBO, reported sales of $8.4 billion, while analysts had expected $8.30 billion, according to IBES data, Refinitiv.

The company said it WarnerMedia is the new streaming service, HBO / Max, is scheduled to be launched in the spring of 2020.

The total operating revenue in the second quarter grew by 15.3%, to $44.96 million. Analysts had expected $44.85 billion, according to IBES data, Refinitiv.

Net income attributable to AT&T, declined to $3.71 billion, or 51 cents a share, up from $5.13 billion, or 81 cents a share, a year earlier.

Excluding items, AT&T earned 89 cents per share, in line with estimates.

The company’s shares were up marginally at $32.09 for the call.

Reporting Akanksha Rana, Bengaluru, and Angela Moon in New York; Editing by Arun Koyyur and Nick Zieminski

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