AT&T Reports First-Quarter Results
AT&T reported strong first-quarter results with notable customer growth in its wireless, fiber, and HBO Max segments. Key highlights include 595,000 postpaid phone net additions, a 9.4% revenue increase to $43.9 billion, and a 3.7% rise in operating income to $6.0 billion. HBO Max gained 2.7 million subscribers, totaling 44.2 million domestically. However, declines in domestic video and business wireline revenues were noted, impacted by recent sales and foreign exchange pressures.
- 595,000 postpaid phone net adds
- Revenues increased by 2.7% to $43.9 billion
- Operating income rose by 3.7% to $6.0 billion
- 2.7 million new HBO Max subscribers, reaching 44.2 million
- Declines in domestic video and business wireline revenues
- Revenue pressure from currency fluctuations
AT&T Inc. (NYSE:T) reported first-quarter results that showed continuing customer growth in wireless, fiber and HBO Max and strong cash flows.
“We continued to excel in growing customer relationships in our market focus areas of mobility, fiber and HBO Max,” said John Stankey, AT&T CEO. “We had another strong quarter of postpaid phone net adds, higher gross adds, lower churn and good growth in Mobility EBITDA. We also continue to increase penetration in markets where we offer fiber broadband and we’re moving quickly to deploy more fiber. HBO Max continued to deliver strong subscriber and revenue growth in advance of our international and AVOD launches planned for June.”
First-Quarter Highlights
Communications
-
Mobility:
- 595,000 postpaid phone net adds
- 823,000 postpaid net adds
- 207,000 prepaid phone net adds
-
Postpaid phone churn of
0.76% -
Revenues up
9.4% ; service revenues up0.6% ; equipment revenues up45.2% -
Operating income of
$6.0 billion , up3.7% year over year; EBITDA4 up2.3% -
Operating income margin of
31.5% ; EBITDA service margin557.1% compared to56.1% in the year-ago quarter
-
Consumer Wireline:
-
235,000 AT&T Fiber net adds; penetration more than
35% , up about 600 basis points -
IP broadband revenues up
4.6% with ARPU growth of3.2%
-
235,000 AT&T Fiber net adds; penetration more than
WarnerMedia
- 2.7 million total domestic HBO Max and HBO subscriber6 net adds; total domestic subscribers of 44.2 million and nearly 64 million7 globally
-
Domestic HBO Max and HBO ARPU8 of
$11.72 -
Direct-to-Consumer subscription revenues up about
35% -
Total revenues up
9.8% to$8.5 billion
Consolidated Financial Results
(Video results are now included in Corporate & Other as the business is classified as held-for-sale. Additional information about the Video business is provided as part of the earnings material on the company’s Investor Relations website.)
Consolidated revenues for the first quarter totaled
Operating expenses were
FAQ
What were AT&T's first-quarter 2023 financial results?
How many postpaid phone net adds did AT&T report in Q1 2023?
What is the current subscriber count for HBO Max?
What is the revenue growth rate for AT&T's WarnerMedia segment?