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AT&T exceeds HBO Max subscriber outlook

By Emily Bary

Company also caps off best year in more than a decade for postpaid phone subscribers

Shares of AT&T Inc. are up about 1% in premarket trading Wednesday after the telecommunications company offered some fourth-quarter metrics ahead of an investor conference.

AT&T (T) saw 1.3 million total postpaid net additions in the fourth quarter, including about 880,000 postpaid phone net additions, the company disclosed in a press release. For the full year, AT&T recorded 3.2 million postpaid phone net additions, which the company said was its highest total in more than 10 years.

The company also added roughly 270,000 fiber subscribers in the fourth quarter and ended the period with about 73.8 million total HBO Max and HBO subscribers globally. The HBO figure came in above the outlook for 70 million to 73 million subscribers that AT&T had offered back in September.

Chief Financial Officer Pascal Desroches plans to present on AT&T's business during the Citi AppsEconomy conference at 10 a.m. ET.

AT&T shares have lost 12.4% over the past 12 months through Tuesday, while the SPDR Communication Services Select Sector exchange-traded fund (XLC) has rallied 17.0% and the S&P 500 index has advanced 28.6%.

-Emily Bary


(END) Dow Jones Newswires

01-05-22 0734ET

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