AT&T, Verizon to Report on the Wireless Industry's Q2 Pain

Credit Bloomberg News

Credit Bloomberg News

AT&T shares rose 2.6 percent to $37.15 in after-hours trading following the release of the earnings report.

The company is still waiting for government authorities to approve the deal, worth $85 billion when it was announced previous year.

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The carrier posted a net loss of 89,000 postpaid phone subscribers, down from 160,000 during the prior year and soundly outperforming Wells Fargo's estimate of 275,000 net postpaid phone losses. He believes that it has not only helped maintain AT&T's current customers but encouraged new customers to switch from competitors' services, as buying phone, TV, and broadband internet all from one company is easier and more attractive to many.

AT&T Inc., the telecom giant that is reinventing itself as a media conglomerate, on Tuesday reported its third-straight quarterly revenue decline as it struggles to add - and retain - subscribers.

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"It was another highly competitive quarter in wireless", AT&T CFO John Stephens said during the earnings call.

In the two years since closing the deal to acquire DIRECTV, AT&T has increased the number of its wireless customers who also have DIRECTV by 31%, to 19.8 million. T noted the uptick was driven by connected devices, prepaid and postpaid plans, along with 476,000 Mexico net adds. Revenue in the global segment increased 11% to $2 billion, fueled by growth in the Mexican wireless business. Stephenson reiterated AT&T's intention to begin to deploy services on those airwaves by the end of the year.

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The company's Mexican operations helped improve those results. "I would certainly expect that we would have the ability to start rolling out (FirstNet) spectrum this year", he said.

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