AT&T U.S. down 946k; Vrio down 111k video subs in 2Q 2019

Wednesday, July 24th, 2019
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AT&T Reports Second-Quarter Results

DALLAS — AT&T Inc. (NYSE:T) reported solid operating results in the second quarter, including consolidated revenue growth, expanding operating income margin and record operating and free cash flow.

Entertainment Group

Subscriber Metrics:

  • Premium TV subscribers: (778,000) net loss due to an increase in customers rolling off promotional discounts, competition and lower gross adds due to a focus on the long-term value customer base
  • DIRECTV NOW subscribers: (168,000) net loss due to higher prices and less promotional activity

Video (in thousands):

                                                                           Three Months Ended
               ------------------------------------------------------------------------------
                9/30/17  12/31/17   3/31/18   6/30/18   9/30/18  12/31/18   3/31/19   6/30/19
               --------  --------  --------  --------  --------  --------  --------  --------
Connections
  Satellite      20,605    20,458    20,270    19,984    19,625    19,222
  U-verse         3,691     3,631     3,632     3,656     3,669     3,681
               --------  --------  --------  --------  --------  --------  --------  --------
 Premium TV      24,296    24,089    23,902    23,640    23,294    22,903    22,359    21,581
 DIRECTV NOW        787     1,155     1,467     1,809     1,858     1,591     1,508     1,340
               --------  --------  --------  --------  --------  --------  --------  --------
Total            25,083    25,244    25,369    25,449    25,152    24,494    23,867    22,921

Net Adds                  
  Satellite        -251      -147      -188      -286      -359      -403
  U-verse          -134       -60         1        24        13        12
               --------  --------  --------  --------  --------  --------  --------  --------
 Premium TV        -385      -207      -187      -262      -346      -391      -544      -778 
 DIRECTV NOW        296       368       312       342        49      -267       -83      -168
               --------  --------  --------  --------  --------  --------  --------  --------
Total               -89       161       125        80      -297      -658      -627      -946

Latin America – Vrio

Subscriber Metrics:

  • 111,000 net loss; total subscribers at the end of the quarter were 13.5 million

Video (in thousands):

                                                                           Three Months Ended
               ------------------------------------------------------------------------------
                9/30/17  12/31/17   3/31/18   6/30/18   9/30/18  12/31/18   3/31/19   6/30/19
               --------  --------  --------  --------  --------  --------  --------  --------
Connections      13,490    13,629    13,573    13,713    13,640    13,838    13,584    13,473
Net Adds           -132       139       -15       140       -73       198       -32      -111