US-based telecommunications giant AT&T posted a 2.5% YoY revenue increase for its core phone and internet business thanks to wireless and broadband revenue growth expansion in fiber internet and 5G services. During Q1, the company added 289k fiber internet customers. As of end-March, there were 76.8mn global HBO Max and HBO subscribers. Global HBO Max and HBO subscribers increased 12.8mn YoY and were up 3mn quarterly, due to international as well as domestic retail subscriber gains. Consolidated revenues for Q1 2022 were at $38.1bn, down 13.3% from $43.9bn in the previous year reflecting the impact of divested businesses, US Video in Q3 2021 and Vrio Q4 2021, and lower Business Wireline revenues. Net attributable income was at $4.8bn vs. $7.5bn in Q12021. In April, AT&T’s WarnerMedia unit completed its merger with Discovery Inc to form the new media firm Warner Bros. Discovery. In the mobility segment during Q1, AT&T added 691k postpaid phone net adds, and 113k prepaid phone net adds. AT&T CEO John Stankey said. “We had our best first quarter for postpaid phone net adds in more than a decade and our fiber broadband net adds remain consistently strong. AT&T has entered a new era, meeting this opportunistic moment from a position of flexibility and strength thanks to evolving networks, enhanced customer experience, growing 5G and fiber customer base, and a much stronger balance sheet.”

AT&T’s dollar bonds were trading lower, its 4.25% 2027 down over 0.18 points to 102.28 yielding 3.71%.

For the full story, click here

Show Buttons
Hide Buttons