rose on Wednesday after the telecommunications and media giant said it added a net 1.3 million postpaid in the fourth quarter, above the 968,000 consensus call.
For 2021, the number of postpaid telephone nets was 3.2 million, the highest annual figure in more than a decade.
The stock rose 2.6% to $ 26.31 on Wednesday morning. It fell more than 14% last year.
“We do not expect today’s announcement to change the negative narrative,” RBC analyst Kutgun Maral said in a research note. AT&T has largely delivered very strong subscriber results in the last six quarters, but investors remain cautious about the durability of this strength and financial headwinds from wireless advertising activity, Maral noted.
AT&T (ticker: T) also reported the addition of about 270,000 fiber subscribers for the quarter, below the Wall Street consensus forecast of 302,000 and less than the third-quarter figure of 289,000 fiber subscribers. “They passed an additional 1.7 MM home during the fourth quarter, which should have translated into higher net additions,” New Street Research analyst Jonathan Chaplin said in a research note.
The company also said it had 73.8 million HBO Max and HBO subscribers globally by the end of 2021; higher than management’s forecasts of 70 million to 73 million subscribers. “We expect the results to benefit from a strong table of contents along with the launch of HBO Max in certain parts of Europe at the end of October … ahead of a broader rollout in 2022,” said Maral
The European Commission gave approval earlier this week to
‘s merger with WarnerMedia. In May last year, AT&T agreed to merge its WarnerMedia business, which includes HBO, CNN and TBS channels, with Discovery and its TLC and HGTV channels.
Write to Karishma Vanjani at email@example.com