AT&T misses revenue estimates as it bleeds pay-TV subscribers
- AT&T Inc’s first-quarter revenue fell short of Wall Street estimates on Wednesday after it lost subscribers in nearly all of its main businesses except wireless, where it paid heavily to gain customers through price promotions.
Total revenue for the quarter rose nearly 18 percent to $44.83 billion but fell short of expectations of $45.11 billion. The company added a net 80,000 phone subscribers, beating analysts’ forecast of a loss of 44,000 subscribers, as it leaned on the smartphone promotions to combat competition in a saturated U.S. market.
“AT&T’s first-quarter earnings give a clear signal that the company is willing to compromise on growth in the short term as it struggles to cut its heavy load of debt,” said Haris Anwar, senior analyst at Investing.com.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Verizon is following its rivals' lead with its first free content offerVerizon announced a partnership with Google to provide its customers with access to Google's video streaming TV service, YouTube TV.
Read more »
Rouhani says Saudi Arabia, UAE owe their existence today to Iran: TVIranian President Hassan Rouhani said on Wednesday that Saudi Arabia and the Uni...
Read more »
North Korea's Kim says to talk to Putin about nuclear standoff: TVNorth Korean leader Kim Jong Un said on Wednesday he hoped to have concrete disc...
Read more »
Fuse Media, backed by Jennifer Lopez, files for bankruptcy protectionTV broadcasting company Fuse Media filed for Chapter 11 bankruptcy protection after losing millions of subscribers.
Read more »
Which TV Show Has The Best First Episode?Tell Us Which TV Show's First Episode Is Better Than The Rest Of The Series
Read more »
Algerian state energy company Sonatrach's CEO sacked: state TVAlgeria's interim president has sacked Abdelmoumene Ould Kaddour as the chi...
Read more »
Five Algerian billionaires arrested as part of anti-graft investigation: State TVFive Algerian billionaires, some of them close to former president Abdelaziz Bou...
Read more »
Ukraine elects Volodymyr Zelensky, TV star and political neophyteBut voters are expecting too much from the new man
Read more »
Look What the Streaming TV Revolution Did to Your Cable BoxIn this streaming-dominated world, every set of shows we want to watch comes with its own app, password and ever-increasing monthly fee. Big Cable is making a comeback by bundling all that content and adopting high tech features to compete with internet-based adversaries.
Read more »
22 Of The Best Clapbacks To Ever Come Out Of A Teen Movie Or TV Show'You're a virgin who can't drive.'
Read more »
17 Homes You’ve Seen On TV And What They Look Like Off-ScreenIt should've been called 'The Fresh Prince of Brentwood.'
Read more »