AT&T's WarnerMedia Division Faces Wall Street Skeptics After Earnings

AT&T remains a wireless phone powerhouse, but COVID-19 has upended WarnerMedia and its premium film and TV businesses, judging by its first-quarter earnings unveiled Wednesday.

"The Warner Media and entertainment segments continue to lose market share on almost every front. With the COVID-19 recession pressuring investment decisions and a mostly new senior management team, we forecast this vicious cycle to continue," added Supino and MacNeill. Craig Moffett, an analyst with research firm MoffettNathanson, said AT&T moving from its low-cost virtual MVPD, or skinny bundle proposition introduced with DirecTV Now, has not paid off, given continuing subscriber losses. "There was a time when pay TV was viewed as a stable and defensive business. But with sports now off the air, and with lower-cost alternatives now plentiful, one simply can’t make that case anymore," Moffett wrote Wednesday in a note.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These two tech stocks could be the biggest winners despite an 'ugly' earnings seasonLoup Ventures' Gene Munster believes Wall Street is underestimating the coronavirus impact on technology earnings.
Source: CNBC - 🏆 12. / 72 Read more »

Wall Street analysts see upside in stocks like Amazon ahead of earningsNew for subscribers: Wall Street analysts see upside in stocks like Amazon ahead of earnings Check out CNBCPro for a free trial. Pro 5 ways prayer can change your reality.(video) Pro Gee, the average person wouldn't be able to predict there would be an upside in a stock such as Amazon. Those analysts must be rock scientists! Pro The true roadmap of Capitalism leads to Fascism. US has proved that repeatedly since 1980. Small business owners realize that now also.
Source: CNBC - 🏆 12. / 72 Read more »

Analysts downgrade some key stocks, including Disney and Peloton, as the rebound may have gone too farFor subscribers: Analysts downgrade some key stocks, including Disney and Peloton, as the rebound may have gone too far Check out CNBCPro for a free trial. Pro Pro No you, sir, have gone too far.
Source: CNBC - 🏆 12. / 72 Read more »