Citing customer growth in wireless, fiber and HBO Max, AT&T reported Q3 consolidated revenues of $39.9 billion versus $42.3 billion in the year-ago quarter. The 5.7% drop was attributed to separation of the U.S. video business, other divested businesses, and lower Business Wireline revenues. Excluding these items, consolidated revenues totaled $38.1 billion compared to $36.4 billion in the year-ago quarter.
Third-quarter net income attributable to common stock was $5.9 billion, or $0.82 per diluted common share, versus $2.8 billion, or $0.39 per diluted common share in the year-ago quarter.
“We continue to execute well in growing customer relationships, and we’re on track to meet our guidance for the year,” said John Stankey, AT&T CEO. “We had our best postpaid phone net add quarter in more than 10 years, our fiber broadband net adds increased sequentially, and HBO Max global subscribers neared 70 million. We also have clear line of sight on reaching the halfway mark by the end of the year of our $6 billion cost-savings goal.”
Some Communications highlights
Mobility:
- 928,000 postpaid phone net adds
- 1,218,000 postpaid net adds
- 249,000 prepaid phone net adds
- Postpaid phone churn of 0.72%
- Revenues up 7.0%; service revenues up 4.6%; equipment revenues up 15.0%
- Operating income of $6.0 billion, up 4.6% year over year; EBITDA up 3.6%
- Operating income margin of 31.1%; EBITDA service margin 55.0%
Consumer Wireline:
- 289,000 AT&T Fiber net adds; penetration about 37%
- Revenues up 3.4%; broadband revenues up 7.6% with ARPU growth of 5.2%