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AT&T raises forecast for revenue, HBO Max as business recovers from pandemic

Mount Equity Group Tokyo, Japan > News > Business > AT&T raises forecast for revenue, HBO Max as business recovers from pandemic

July 22 (Reuters) – AT&T Inc (T.N) on Thursday raised its full-year financial forecast as the telecoms company emerged from the pandemic with more wireless and internet customers, and beat analyst estimates for phone subscribers and revenue in the second quarter.

The results come as AT&T is unwinding its expensive media investments to focus on its original business of providing phone and internet services.

Ahead of closing a deal to combine its media content with Discovery (DISCA.O), AT&T said WarnerMedia continued to attract more customers to streaming service HBO Max and notched higher revenue as live sports and televised events resumed from the pandemic.

The company added 789,000 net new phone subscribers who pay a monthly bill during the quarter ended June 30, blowing past Wall Street estimates of 278,000 new subscribers, according to data from research firm FactSet.

WarnerMedia added 2.8 million U.S. subscribers for its premium…

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