AT&T wireless business grows but premium TV subscribers decline

AT&T Inc exceeded analyst expectations on Wednesday for net wireless subscribers...

) exceeded analyst expectations on Wednesday for net wireless subscribers who pay a monthly bill, as it eked out some growth in a saturated market and continued to bundle media content from Time Warner into new wireless plans.

AT&T lost 778,000 premium TV subscribers, a category that includes DirecTV satellite and U-verse television customers, much more than the 544,000 lost in the first quarter. The company also lost 168,000 streaming DirecTV Now accounts. AT&T said it expects a similar level of video losses to continue in the current quarter.

The new WarnerMedia segment, which includes Turner and premium TV channel HBO, reported revenue of $8.4 billion, against analyst expectations for $8.3 billion, according to IBES data from Refinitiv.AT&T has been focused on paying down its debt after the purchase of Time Warner, which pushed its net debt load to about $180 billion last year.

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