AT&T exceeds peak expectations for HBO Max subscribers

The company also ended its best year in more than a decade for postpaid subscribers.

AT&T Inc. shares rose about 1% in premarket trading Wednesday after the phone company provided fourth-quarter data ahead of its investor conference.

AT&T T, 3.60%, reported 1.3 million postpaid net additions in the fourth quarter, including nearly 880,000 postpaid phone additions, the company said in a press release. For the full year, AT&T recorded 3.2 million postpaid net phone additions, a number the company said is the highest in more than 10 years.

The company added about 270,000 fiber optic subscribers in the fourth quarter and ended the period with a total of 73.8 million HBO Max and HBO subscribers worldwide. HBO's numbers beat AT&T's expectations of 70-73 million subscribers in September.

CFO Pascal Desroches will present AT&T's operations at the Citi AppsEconomy conference at 10 AM ET.

AT&T shares were down 12.4% in the 12 months through Tuesday, while the communications services select sector SPDR XLC was up -0.32%, or 17.0%, and the S&P SPX 500 was up 0.12%, or 28.6%.

Source

Bary, E. (2022, January 5). AT&T exceeds HBO Max subscriber outlook. MarketWatch. Retrieved January 5, 2022, from https://www.marketwatch.com/story/at-t-exceeds-hbo-max-subscriber-outlook-11641386080?siteid=yhoof2