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Oct. 21, 2021, 10:28 a.m. EDT

AT&T Gains on Q3 Earnings

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Oct 21, 2021 (Baystreet.ca via COMTEX) -- AT&T Inc. /zigman2/quotes/203165245/composite T +3.69% reported third-quarter operating revenues of $39.92 billion, down 5.7% year-over-year, beating the consensus of $39.14 billion. WarnerMedia revenue growth partially offset the Business Wireline revenue decline.

Adjust EPS of $0.87 grew 14.5% Y/Y, beating the consensus by $0.09.

In the Mobility segment, AT&T clocked 928 thousand postpaid phone net adds, 1.22 million postpaid net adds, and 249 thousand prepaid phone net adds. It saw a Postpaid phone churn of 0.72%, which increased from 0.69% in Q2.

The penetration was about 37% in the Consumer Wireline segment, with 289,000 AT&T Fiber net adds.

In the WarnerMedia segment, total revenues jumped 14.2% Y/Y to $8.4 billion. Total global HBO Max and HBO subscribers grew by 12.5 million Y/Y to 69.4 million, and Domestic HBO Max and HBO subscribers increased 7.1 million Y/Y to 45.2 million, with a Domestic ARPU of $11.82.

AT&T's Q3 adjusted EBITDA of $13.01B beat the consensus of $12.97 billion.

The company generated $9.87 billion in Q3 operating cash flow, down 18.6% Y/Y, and a free cash flow of $5.2 billion. It ended Q3 with $21.3 billion in cash and equivalents and $179.2 billion in total debt.

AT&T now expects full-year adjusted EPS to be at the high end of the low- to mid-single-digit growth range versus just low- to mid-single growth previously.

T shares forged ahead 10 cents to $26.01.

COMTEX_395622171/2559/2021-10-21T10:27:55

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 23.05
+0.82 +3.69%
Volume: 80.02M
Dec. 2, 2021 4:02p
P/E Ratio
189.71
Dividend Yield
9.02%
Market Cap
$158.74 billion
Rev. per Employee
$746,783
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