AT&T released its second quarter earnings on Thursday.
Angela Lang / CNET
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While another quarter of the coronavirus pandemic continued to outperform the economy, AT&T continues to try to overcome the storm.
In its second-quarter profit released Thursday morning, the telecommunications giant said it had $ 41 billion in revenue, which Yahoo Finance estimates is roughly equivalent to the $ 41.02 billion estimate. Earnings per share were $ 0.83, exceeding analyst expectations of $ 0.79.
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In the mobile sector, the mobile operator reported a net loss of 151,000 postpaid mobile phone users, although the numbers are somewhat more complicated due to the corona virus.
According to AT&T, 338,000 of the lost phones were part of the Federal Communication Commission's Keeping America Connected program, a coronavirus initiative designed to protect those who may or may not be able to pay their bills due to the pandemic to lose service or to charge late fees.
The program ran from March 13 to June 30, with users still connected to the AT&T network. Although they are currently considered disconnected because they have not paid their bills, the company says it would "have had 190,000 postpaid phone lines" if it had added those subscribers back.
Postpaid users or those who pay their phone bills at the end of the month are rated higher by the investment community as a key measure of success.
At the end of the quarter, the telecommunications giant had 171.4 million mobile customers, compared to 158.6 million a year ago. During its call for profits, the airline announced that its
When it comes to traditional television, AT & T's struggles continued. While the company says that the addition ofTo offset losses, the video group continued to lose customers.
The group, which also includes DirecTV and the AT&T TV Now streaming option, lost 886,000 subscribers in the quarter, with 91,000 subscribing to Keeping America Connected programs.
At the end of the quarter, the company had 17.7 million "Premium TV" subscribers.
For WarnerMedia, AT & T's division, which oversees HBO Max and its other entertainment properties, including Warner Bros. film and television studios and cable channels such as CNN, TNT, and TBS, the telecommunications giant generated $ 6.8 billion in operating revenue , which is a decrease of 22.9% compared to 2019.
While HBO Max and HBO subscriptions now have a combined 36.3 million users (up from 34.6 million at the end of 2019), the HBO Max service is missing on two of the largest streaming platforms, Roku and Amazon Fire TV, which do the majority make up the smart TV market.
Although WarnerMediaIt remains to be seen whether and when AT&T can reach an agreement with Roku or Amazon.
Overall, the quarter was very busy for AT&T.
In the past three months, the operator has not only addressed the impact of the corona virus on its operations, including the continued closure of U.S. cinemas for the Warner Bros. division, but has also launched its HBO Max streaming service and its 5G Mobile network expanded further.
The company also saw the transition from John Stankey to CEO and Randall Stephenson, who took overafter 13 years as Chairman and CEO of AT & T.
Despite stepping down as CEO on July 1, 60-year-old Stephenson will remain CEO of AT & T. until January 2021.
Stankey is expected to provide an update to HBO Max on Thursday morning during the company's earnings call.