AT&T ended its second quarter by adding another 342,000 subscribers to its DirecTV Now platform, bringing the total for the service to 1.8 million.
In all, AT&T recorded 80,000 total video net adds during the quarter and claimed its total video customer base “stable” with DirecTV Now. But the numbers suggest that AT&T’s traditional video platforms (DirecTV and Uverse) lost more than 250,000 subscribers.
In a somewhat truncated press release put out for AT&T’s first quarterly earnings report since successfully acquiring Time Warner for $85 billion, the company offered only small details about the performance of the assets it had just bought.
HBO and Turner both recorded year-over-year subscription revenue growth, and Turner ad revenues were up 3%.
“Time Warner joins us coming off an impressive second-quarter. Turner turned in solid subscription and advertising revenue growth, Warner Bros. is in high gear with a record number of series in production, and HBO delivered strong subscriber revenue growth,” AT&T CEO Randall Stephenson said in a statement.
AT&T’s consolidated revenues (which include 16 days of Time Warner’s results) for the second quarter totaled $39 billion, down from $39.8 billion in the year-ago quarter. On a comparative basis, declines in domestic video and legacy wireline services were offset by adding approximately $1.1 billion from Time Warner net of eliminations and growth in wireless, strategic business services and advertising, the company said.
AT&T’s second-quarter net income was $5.1 billion, or $0.81 per diluted share, up from $3.9 billion, or $0.63 per diluted share, in the year-ago quarter.