The AT&T logo is pictures on a building in Los Angeles, California, U.S. August 10, 2017. REUTERS/Mike Blake
(Reuters) – AT&T Inc missed fourth-quarter revenue estimates on Wednesday, as another loss in DirecTV subscriptions overshadowed a better-than-expected sign ups in monthly bill paying customers.
Revenue from the entertainment segment, that includes satellite TV provider DirecTV, fell 6.1% to $11.23 billion.
The company said it added 229,000 net new subscribers. Analysts had estimated the company to add 145,000 subscribers, according to research firm FactSet.
AT&T has been losing satellite TV consumers as traditional television concedes to streaming platforms like Netflix Inc and Amazon.com Inc’s Prime. To counter that, it plans to launch its own streaming platform HBOMax in May.
AT&T announced a three-year cost-cut plan in October, which included asset sale worth up to $10 billion to pay off its debt, bowing to pressure from activist investor Elliott Management that…
Source Reuters Tech News