AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers

News

AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers

28.10.2020 News

Shares of AT&T, which have lost 27.6% of value since the beginning of the year, rose up to 5.8% on Thursday after the publication of better-than-expected Wall Street analysts, earnings for the 3rd quarter, which ended on September 30.

AT&T reported earnings per share of $ 0.76, which is 19% below last year’s value, but meets analysts’ expectations. The company said the COVID-19 pandemic had reduced earnings per share by $ 0.21.

Revenue fell 5% to $ 42.3 billion, but it was above the average analytical estimate of $ 41.59 billion.

In the third quarter, AT&T added 645,000 new telephone subscribers, while analysts expected a loss of 9,000 customers.

The company continued to grow its HBO and HBO Max streaming business and reached 38 million subscribers, up from 36.3 million a quarter earlier.

AT&T allocated about $ 600 million for this purpose during the third quarter, as a result of which the volume of investments for the year amounted to $ 1.3 billion. By the end of the year, investments are expected to reach $ 2 billion.

Most AT&T subscriptions come from sales shared with any pay-TV provider, such as Comcast, Charter, Verizon, or its own DirecTV. But only 3.625 million subscribers purchased subscriptions directly from AT&T for $ 15 a month.

In recent months, analysts have lowered their valuations of AT&T shares, referring to strong competition from the company’s streaming services, as well as loss of revenue due to the refusal of users from cable and satellite TV services.

In the third quarter, AT&T lost 590,000 DirecTV satellite subscribers and lost 37,000 Internet subscribers.

Other articles

  • Exxon Mobil announces record depreciation of its gas assets by $ 20 billion
    News

    Exxon Mobil announces record depreciation of its gas assets by $ 20 billion

    The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]

  • General Motors reports profit growth of 74%
    News

    General Motors reports profit growth of 74%

    Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]

  • The net loss of the world’s largest cinema network increased 16.5 times in the third quarter
    News

    The net loss of the world’s largest cinema network increased 16.5 times in the third quarter

    AMC Entertainment Holdings, which owns the world’s largest network of cinemas, presented its financial report for the third quarter of 2020. His company ended with a net loss of $ 906.5 million – 16.5 times worse than last year. In the third quarter, the company’s cinemas began to reopen after a five-month of lockdown due […]

  • The third quarter of Alphabet showed growth in search advertising revenue and strong growth in YouTube
    News

    The third quarter of Alphabet showed growth in search advertising revenue and strong growth in YouTube

    Shares of Alphabet, which rose 18.2% over the past 6 months, rose 9% after closing trading on Thursday when the global advertising giant announced significant improvements in the reporting quarter. Google’s parent financial report far exceeded analysts’ expectations and showed a resumption of advertising revenue growth after reporting a drop in revenue for the first […]

  • Chevron made a net loss of $ 4.9 billion in nine months
    News

    Chevron made a net loss of $ 4.9 billion in nine months

    The net loss of the second largest American oil and gas company Chevron, which accounts for the parent company, in the first nine months of 2020 amounted to 4.878 billion dollars against a profit of 9.534 billion dollars a year earlier, the company said. The diluted loss per share was $ 2.63 against earnings of […]

  • Visa and JPMorgan Chase are launching apps for contactless payment system for sellers
    News

    Visa and JPMorgan Chase are launching apps for contactless payment system for sellers

    On Tuesday, JPMorgan Chase announced the launch of its mobile payment service QuickAccept, and on Wednesday, Visa launched its application called Tap to Phone. The purpose of both programs is to offer sellers an easy way to accept contactless payments from customers via a smartphone or tablet. According to Visa, in the context of the […]

  • China’s economy grew by 4.9% in the third quarter
    News

    China’s economy grew by 4.9% in the third quarter

    According to the National Bureau of Statistics of China, the country’s GDP grew by 4.9% year on year in the third quarter. China’s economy is recovering the fastest in the world from the COVID-19 pandemic – GDP decline by closing factories and quarantine in the first quarter of the year already fully compensated, and the […]

Read also

AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Poroshenko’s former plant has paid off 300 million in debt

The Kyiv shipyard Kuznya na Rybalskomu (Ukrainian: “Кузня на Рибальському”) has returned to the state budget more than 300 million UAH, which the Ministry of Finance had previously paid on the company’s debts. It is noted that in 2017 the government provided state guarantees for a plant loan from Ukreximbank. The credit line allowed to […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

The court suspended the ACU’s decision to seize the accounts of tobacco companies

The Commercial Court of Kyiv suspended the decision of the Antimonopoly Committee, which seized the accounts of tobacco companies as part of a forced fine of UAH 6.5 billion. “The court rejected their request. We welcome this decision, since the arrest of accounts could endanger the normal functioning of large companies and negatively affect tax […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

McLaren has introduced a hybrid sports car

McLaren has introduced the McLaren Artura hybrid sports car. The car is equipped with a 3-liter V6 engine with dual supercharging and an electric battery. The total power of the sports car is 671 horsepower and torque is 531 Nm. The McLaren Artura sports car accelerates to 96 km / h in 3 seconds. The […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Fidobank and Eurobank announced a merger

The foreign investor will enter the capital of the combined bank. The owner and the Chairman of the Board of the Fidobank, and the shareholder of the Eurobank (both – Kiev), Alexander Adarich plans to consolidate its banking assets by combining the two banks, as well as attract foreign investors. “Based on the National Bank of […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Amazon starts to open new offices in six US cities

The US company Amazon will expand its business in six cities of U S, investing more than $ 1.4 billion in this activity. This is stated in a statement published on the website of the corporation on Tuesday, August 18. “Today, we are pleased to announce the plans which provide for continued investment and the […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Ukrainian banks for three months closed 250 branches

In July-September 2020, Ukrainian banks closed 251of the structural subdivisions, reducing the regional network to 7329 branches by October 1. This is stated in the data of the National Bank. Most branches in the third quarter were closed by the state Oschadbank – 166, reducing its total number to 1931. During the same period, the […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

The Supreme Court confirmed the insolvency of Astra Bank

The Supreme Court declared Astra Bank insolvent, the press service of the National Bank reports. By its decision, the Supreme Court overturned the decisions of the Kyiv District Administrative Court and the Sixth Administrative Court of Appeal, which found the central bank’s actions illegal. The NBU reminded that Astra Bank is the only bank that […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

A new head of PrivatBank has been appointed

The Supervisory Board of the state-owned PrivatBank has elected Gerhard Bösch as the new Chairman of the Board. This was announced on Thursday, May 27, the press service of the bank. It is noted that Bösch will take office after the approval of his candidacy by the National Bank of Ukraine. According to the press […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Netflix shares fell sharply after the report due to falling new users

Shares of Netflix fell more than 11% after the close of trading on Tuesday, as the low number of new users of the streaming giant disappointed investors. Market analysts predicted a decline, but did not expect it to be so strong. In 2020, Netflix, on the one hand, received an incredible increase in users of […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Nestle will invest $ 30 million in the disposal and recycling of plastic waste

This year the company Nestle has established a venture fund package for $ 260 million, but it is just a part of a wider initiative of $ 2.1 billion for abandonment of primary plastic. Two years ago, Nestle that will make all its packaging suitable for recycling or re-use and intends to reduce the use […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Belavia continued to cancel flights to Ukraine

Belarusian airline Belavia has extended its decision to refuse flights to Ukraine until the end of September, the company’s press service reports. “The Ukrainian side informed about the extension of the ban on Belavia flights until September 30, 2021. This is their official position. In this regard, the suspension of all flights to Ukraine has […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Microsoft has accused China of cyberattacks

Microsoft has accused a group of hackers from China of attacking its mail server software. According to the company, the hackers “with a high degree of probability” were members of the Hafnium group. This group is probably funded by the state and operates outside China. In particular, the hacking campaign used four previously undiscovered vulnerabilities […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

Verkhovna Rada gave the “green light” to the privatization of the agricultural sector

Verkhovna Rada of Ukraine adopted in the first reading a bill needed to start privatization. It is envisaged that buyers cannot be legal entities, and related to them persons who registered in countries recognized by the Verkhovna Rada as aggressors. It is not allowed to participate in the privatization the representatives of countries with sanctions. […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

The second plant of the Ukrspirt was sold at the auction

The State Property Fund sold the second object of the alcohol industry – Artemivsk distillery – for 50 million hryvnias. This was reported by the press service of the State Property Fund on Facebook. “The auction for the sale of the property of Artemivsk MTD and the storage of alcohol has just ended. This is […]

Next
AT&T’s quarterly revenues exceeded estimates after adding 645,000 new telephone subscribers
News

The Cofco Corporation will launch a grain terminal in Ukraine

The Cofco Agri Ukraine Company, which belongs  to the Chinese Cofco Corporation is one of the largest global manufacturers and suppliers of agricultural products and foodstuffs, will officially launch the terminal in Mykolaiv sea port on May 19. This is reported by the “Interfax-Ukraine” with reference to the company’s message. This terminal is one of […]

Next