In today’s Quarter 2 earnings report, AT&T announced that it lost a net 886,000 TV customers for the quarter. AT&T reported a total of 17.7 million premium TV subscribers at the end of the quarter.
Revenue was also down year over year, dropping 9% to $41 billion. The company noted that the pandemic “impacted revenues across all segments.” WarnerMedia alone dropped 23% to $6.8 billion.
Along with the premium TV losses, AT&T noted a successful launch for HBO Max, showing “significantly higher” engagement when compared to HBO Now.
“Our solid execution and focus in a challenging environment delivered significant progress in the quarter, most notably the successful launch of HBO Max, resilient free cash flow and a strengthened balance sheet,” said John Stankey, AT&T chief executive officer. “Our resilient cash from operations continues to support investments in growth areas, dividend payments and debt retirement. We are aggressively working opportunities to sharpen our focus, transform our operations and continue investing in growth areas, with the customer at the center of everything we do.”
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