AT&T tops earnings expectation as wireless churn matches record low

AT&T Inc. topped expectations with its latest financial results as the telecommunications giant continued to see low customer churn in its wireless business as well as subscriber growth for the HBO Max service.The company reported second-quarter net income of $1.5 billion, or 21 cents a share, compared with $1.2 billion, or 17 cents a share, a year earlier. After adjusting for non-cash impairments, merger-amortization costs, and other expenses, AT&T T, -0.

“For the fourth consecutive quarter, we saw good subscriber growth across wireless, fiber and HBO Max,” Chief Executive John Stankey said in a release. The company’s WarnerMedia business generated $8.8 billion in revenue, up 30.7% from a year earlier, as AT&T saw a “partial recovery” from some pandemic-driven impacts. The base of domestic HBO Max and HBO subscribers reached 47.0 million at the end of the quarter, compared with 44.2 million as of the end of the first quarter.

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