Published: Wed, April 26, 2017
Finance | By Laverne Griffith

AT&T Inc. Adds 2.7 Million Wireless Customers In Q1

AT&T Inc. Adds 2.7 Million Wireless Customers In Q1

Excluding merger-and integration-related and other items, AT&T earned 74 cents a share, up two pennies the year-ago period and in-line with the average analyst estimate on Thomson Reuters.

DirecTV had 21.012 million domestic subs as of the end of March, flat sequentially, compared with 328,000 net adds in the year-earlier period. Stephens called out AT&T's bundling of HBO for no extra cost with the Unlimited Plus wireless plan as helping cut subscriber churn.

"In a very competitive quarter, we continued to execute on our goals of driving efficiencies in our business while growing adjusted earnings per share", said Randall Stephenson, AT&T Chairman and CEO, in a statement.

Revenues of $39.37 billion were off almost 3% year-over-year, and failed to reach the Street's consensus mark of $40.53 billion.

AT&T Inc. (NYSE:T) said it added 2.7 million wireless customers, including 2.1 million in US, driven by prepaid and connected devices.

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Stephenson added that the "planned acquisitions of Fiber Tower and Straight Path will add valuable millimeter wave spectrum assets to our 5G tool kit as we lead the way to the next generation of wireless technology". Growth in wireless service revenues and strategic business services helped offset declines in legacy wireline services and equipment sales and the second-quarter 2016 sale of certain hosting operations. In the same period from past year, AT&T reported $0.72 in EPS and $40.53 in revenue.

During the quarter, AT&T added almost 4,000 high-speed IP broadband business subscribers. They closed the regular trading day Tuesday down 8 cents to $39.94 and are down 6 percent in 2017.

In contrast, TMUS recorded 914,000 net postpaid phone subscribers in its recently reported quarter.

Among individual areas of the company, AT&T pulled in $9.02 billion in video entertainment revenues, up 1.3%, and high-speed Internet revenues of $1.94 billion, up 7.7%.

The company is no longer providing consolidated revenue guidance primarily due to the unpredictability of wireless handset sales.

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