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.

Britain's Labour to guarantee EU citizens' rights if wins election
Shadow Brexit secretary Sir Keir Starmer will say Labour would ditch the Government's negotiating plans for quitting the bloc.

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".

Related Articles

  • Runoff in Georgia House race could test Trump

    Ossoff harnessed opposition to President Donald Trump to lead an 18-candidate ballot in the typically conservative district. Swint predicts a "dogfight" during the eight-week runoff, with both parties pouring millions of dollars into the race.
    Thousands March to Remember Armenian Genocide 102 Years Later

    Thousands March to Remember Armenian Genocide 102 Years Later

    The Turkish government is also actively trying to dissuade other governments from following in Canada's footsteps. It is a cause for pause this week as the anniversary of the Armenian Genocide has once again passed.
    April The Giraffe Cam Going Off

    April The Giraffe Cam Going Off

    The Animal Adventure Park had previous said that it would take the stream down five days after April's birth. Their typical animal activities have won many over and have garnered a deeper appreciation for giraffes.
  • Ronaldo landmark as Madrid wins 2-1, ends Bayern record run

    Bayern Munich had many attacking options even without Robert Lewandowski and Madrid excelled defensively. We did it once again and after scoring two goals I was very happy because I helped Real Madrid to win.
    US VP Pence says to North Korea: 'The sword stands ready'

    US VP Pence says to North Korea: 'The sword stands ready'

    That kind of rhetoric has unnerved allies in Japan and South Korea, who would be at the sharp end of any North Korean response. For its part, China made a plea for a return to negotiations.
    Corbyn promises to 'unite our four nations' with new bank holidays

    Corbyn promises to 'unite our four nations' with new bank holidays

    Jeremy Corbyn spoke at a festival today to mark 40 years since National Front members marched through Wood Green, London . I am no supporter or defender in any way whatsoever of Isis", he said. "They are a disaster if ever used".
  • Election in France: 'Despair Over the Existing Policy and Hope for Changes'

    Of course until the second round of elections is held there is always some risk of National Front leader Le Pen being victorious. But Mr Macron still faces a challenge convincing some voters he has the experience and clout to become president.

    Turkish referendum polls put 'yes' vote slightly ahead

    Those campaigning for a "NO" vote fear the poll is a power grab for Erdogan, which will hand him sweeping presidential powers. Since last summer's botched military putsch, Turkish authorities have detained over 35,000 people .

    Macron, Le Pen to contest second round of French presidential election

    An Ipsos-Sopra Steria poll published by French media, including the daily Le Monde, projected Macron with 23.9 percent while putting Le Pen at 21.7 percent.
  • Turkey election board 'rejects referendum annulment bid'

    Turkey election board 'rejects referendum annulment bid'

    The referendum has no "democratic legitimacy", HDP spokesman and lawmaker, Osman Baydemir, told reporters in Ankara. Everyone, and the main opposition party in particular, must show respect.
    Mel B's nanny's shock sex claims

    Mel B's nanny's shock sex claims

    The former Spice Girls singer and Stephen Belafonte are now embroiled in a bitter divorce battle at Los Angeles Superior Court. She also provides what she claims is a true account of her relationship with Mel B and Belafonte from when they first met.
    Zuccarello, Rangers beat Canadiens 3-1 to reach East semis

    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.