Stripping out the impact of an accounting change, AT&T reported a 17.5% increase in third quarter revenues to 46.6 billion US dollars. The increase was driven by the Time Warner acquisition. Revenue declines in domestic video, legacy wireline services and Vrio (its DirecTV business in Latin America) were offset by growth in wireless equipment and services, WarnerMedia and its advertising unit Xandr.
AT&T said wireless revenues were up 5.1%, propelled by equipment sales, as wireless service revenue was up just 2.3%. Warner Media revenues were up 7% thanks to higher subscription revenues and higher TV licensing earnings at Warner Bros. AT&T's video-on-demand service DIRECTV NOW added 49,000 subscribers taking its total subscriber base to nearly 1.9 million. AT&T WatchTV, its latest video product, also added subscribers in the quarter. Source: AT&T statements