AT&T readies for revamped firm after sale of media unit
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After facing skepticism from investors over its expensive endeavor to become a media powerhouse, AT&T (T) struck a deal to merge WarnerMedia with Discovery Inc, which it now expects to close in the second quarter.
The company will detail its plans to attract new types of
wireless customers and how it will refine its brand
post-WarnerMedia at a virtual analyst day in March, said AT&T (T)
Chief Executive
AT&T (T) will aim to have "a much more crisp and intense focus," on its core wireless and internet business, Stankey said.
Investors were also disappointed in AT&T's (T) growth guidance for the communications business, Chaplin said in an email.
The company signed up 884,000 net new phone subscribers who pay a monthly bill in the quarter, in line with its preliminary result of 880,000 released earlier this month.
Rival carrier Verizon (VZ) on Tuesday reported a better-than-expected 558,000 subscriber additions in its latest quarter.
Revenue at WarnerMedia, which houses premium TV channel HBO
and streaming service HBO Max, rose 15.4% to
WarnerMedia CEO
"That's one indication that what we're doing is working and resonating with audiences around the world," he said in an interview with Reuters.
HBO and HBO Max together added 4.4 million subscribers during the quarter, drawing viewers with releases such as "Dune", "The Matrix" and the newest season of TV show "Succession".
Total consolidated revenue was
Excluding items, AT&T (T) earned
AT&T (T) has prioritized its fiber internet business as an area for growth, and said it added 271,000 net new customers during the quarter.
Including WarnerMedia and advertising business Xandr, AT&T (T) now expects 2022 revenue growth in the low-single-digit percentage range.
The company expects annual adjusted earnings of between
AT&T (T), which faces fierce competition from rivals Verizon (VZ) and
T-Mobile US (TMUS) amid nationwide deployment of their 5G
technology, forecast 2022 capital expenditure in the