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AT&T posts 2.5% rise in quarterly core wireless revenue

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John Stankey, CEO of AT&T

Mike Segar | Reuters

AT&TThe telecom company posted an increase of 2.5% in core wireless revenues for the quarter ended Thursday. This was due to the rapid expansion of 5G and fiber internet services.

As Americans move to 5G and increase their internet speeds, the demand for high-speed Internet has risen.

From $29 billion last year, the core revenue for the company, which is made up of contributions from its mobile business, jumped to $29.7 trillion in the quarter.

The divested satellite business had a significant impact on overall revenue and the weakness of its business wireline units caused a decline in total revenue.

Dallas-based WarnerMedia, whose WarnerMedia unit merged with Discovery earlier in the month to create the new media company, has closed its deal. Warner Bros. DiscoveryIn the fourth quarter, 691,000 subscribers paid monthly for their phone bills were added.

The global total subscribers of HBO and HBO Max grew by 3 million in the last quarter.

Analysts are keeping a close watch on AT&T’s strategy post-divestment as it doubles down on its wireless business.

Common stock income fell to $4.8 Billion, which is 65c per share, compared to $1.02 per share at $7.5 Billion a year ago.

The story is still in development. Stay tuned for new updates.

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