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Home / Business / AT & T drops in first results since the closing of Time Warner after losing revenue

AT & T drops in first results since the closing of Time Warner after losing revenue



AT & T shares fell more than 2 percent after the telco announced mixed revenues and second-quarter revenue.

"There's no piece of this business to look at and say it's going really well," Chaplin said in CNBC's "Closing Bell."

AT & T is losing subscribers to its traditional television packages as more and more consumers cut the cable and opted for cheaper streaming services. Subscriber growth for the DirecTV Now streaming service continues to help compensate for declining revenues from satellite and subway broadcasters and older services. In wireless, both AT & T and Verizon lost shares of postpaid customers or customers paying a monthly bill to cheaper competitors.

This quarter is the first financial report ever since a district judge approved AT & T's fiercely competitive $ 85.4 billion acquisition of Time Warner in June. The companies quickly went to close the deal and combine operations, but the Department of Justice appealed against the court's decision, to the surprise of AT & T executives who expressed their determination to uphold the court's decision and groundbreaking merger defend.

AT & T included WarnerMedia Time Warner, as a separate segment in the second quarter, reported revenues of $ 1

.3 billion and operating expenses of $ 824 million for the six-month period ended June 30. Contributed to the dollar. WarnerMedia includes cable channels such as CNN and HBO as well as Warner Bros. Film Studio

This call will look closely at how CEO Randall Stephenson outlines his strategic vision for the combined company, especially with regard to investing in DirecTV and HBO -Assets and the company's roadmap for the introduction of 5G. 19659010] That's news. Please check for updates.


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