AT&T unexpectedly loses postpaid subscribers in first quarter

AT&T unexpectedly loses postpaid subscribers in first quarter

AT&T, the biggest US pay-television operator after its $49 billion acquisition of DirecTV, reported its video business lost 233,000 customers in the quarter. According to AT&T, the growth of the DirecTV Now over-the-top pay TV package, launched last fall, helped to offset the declines on the traditional pay-TV side (but it didn't disclose how many DirecTV Now customers it gained in Q1).

AT&T on Tuesday reported decreases in profit and consolidated revenues for the first quarter of this year compared to the same quarter in 2016.

The American wireless giant said it added 2.7 million wireless customers including 2.1 million in the US, driven by prepaid and connected devices.

AT&T and Verizon have also been buying up assets that they need for a next-generation, or 5G network, with faster downloads and applications that would enable self-driving cars.

AT&T's total operating revenue fell almost 3 percent to US$39.37 billion, mainly due to record-low sales of wireless handset sales.

Net income attributable to AT&T was $3.47 billion, or 56 cents a share, down from $3.80 billion, or 61 cents a share, in the year-ago period.

Zuccarello, Rangers beat Canadiens 3-1 to reach East semis
As that cleared up, Canadiens captain Max Pacioretty and NY rookie Jimmy Vesey dropped gloves and exchanged punches. That doesn't mean Price didn't play well, finishing with a.933 save percentage and 1.86 goals-against average.

Matched earnings estimates. The company posted adjusted earnings of 74 cents per share, matching the Zacks Consensus Estimate of 74 cents per share (this number excludes 18 cents from non-recurring items).

The company, though, fell just shy of predictions for revenue, reporting $39.4 billion as opposed to the $40.1 billion expected by analysts.

Analysts were expecting $40.5 billion in revenue and $0.74 EPS.

Shares of AT&T jumped roughly 1% following the announcement. The stock, however, gained $0.24 or 0.60% in the after-hours trade.

Looking ahead, AT&T reiterated its previously announced full-year earnings guidance. But most telling was the 798,000 postpaid phone subscribers added to T-Mobile's customer logs during the first three months of the year. However, the company said it is "no longer providing consolidated revenue guidance primarily due to the unpredictability of wireless handset sales".

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