AT&T Inc posted Q3 results that showed continuing customer growth in wireless, fiber and HBO Max, according to a report by AT&T Inc on Thursday.
- The consolidated Q3 revenues of the company dropped by 5.7% to $39.9 billion compared to $42.3 billion in the same period last year, underperforming expectations.
- The decline in revenues was partially reduced by higher Mobility and WarnerMedia revenues that posted a partial recovery from prior-year impacts of the pandemic.
- Operating expenses fell to $32.8 billion Q3 in 2021 from $36.2 billion last year, reflecting the impact of other divested businesses and lower sports-related programming costs from timing comparisons with the prior year quarter.
- John Stankey, AT&T CEO stated that the company posted their best postpaid phone net add quarter in over 10 years, with fiber broadband net adds increasing sequentially, and HBO Max global subscribers almost 70 million.
Operating income rose significantly to $7.1 billion compared to 6.1 billion in the year-ago quarter following a decline in depreciation and amortization expenses. T up +1.25%