July 24, 2019 / 10:23 AM / a month ago

AT&T beats quarterly phone subscriber estimates

July 24 (Reuters) - AT&T Inc on Wednesday beat Wall Street estimates for net wireless subscribers who pay a monthly bill as it grounded out some growth in a saturated market and continues to bundle media content from Time Warner into new wireless plans.

The second-largest U.S. wireless carrier by subscribers added a net 72,000 phone subscribers, bigger than analysts’ estimates of 27,000 subscribers, according to research firm FactSet.

AT&T closed its $85 billion acquisition of media company Time Warner in June last year, creating a new business segment called WarnerMedia to house assets including the Turner TV networks and premium channel HBO.

The new WarnerMedia segment, which includes Turner and premium TV channel HBO, reported revenue of $8.4 billion during the quarter, while analysts were expecting $8.30 billion, according to IBES data from Refinitiv.

Total operating revenue in the second quarter rose to $45 billion from $39 billion a year earlier. Analysts were expecting revenue of $44.85 billion, according to IBES data from Refinitiv.

AT&T also lost 778,000 premium TV subscribers, a category that includes DirecTV satellite and U-verse television customers, much more than 544,000 losses in the first quarter. (Reporting by Akanksha Rana in Bengaluru and Angela Moon in New York; Editing by Arun Koyyur)

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