AT&T quarterly postpaid phone additions jump on 5G boost

(Reuters) - AT&T Inc said on Wednesday it added more postpaid phone subscribers than expected during the fourth quarter, helped by an uptick in demand for its 5G services as people continued to work from home following fresh pandemic curbs.

The 5G iPhone launch in the quarter, coupled with offerings such as free subscriptions to AT&T's HBO Max streaming service, helped the company rein in more customers.

The company added 800,000 net new postpaid phone subscribers during the quarter. Analysts had expected AT&T to add 475,300 customers, according to research firm FactSet.

Revenue in AT&T's HBO business rose 11.7% to $1.9 billion, driven by a growth in subscription revenue.

The company reported a net loss attributable of $13.88 billion, or $1.95 per share in the fourth quarter ended Dec. 31.

Total operating revenue was $45.69 billion, beating analysts' estimates of $44.56 billion, according to IBES data from Refinitiv.

(Reporting by Eva Mathews in Bengaluru; Editing by Shounak Dasgupta)

01/27/2021 11:45

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