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AT&T posts drop in underlying earnings as TV market ht by Covid-19 restrictions

2020-04-22 13:48:00| Telecompaper Headlines

(Telecompaper) AT&T reported first-quarter revenues down 4.6 percent to USD 42.8 billion, as its WarnerMedia division suffered from the Covid-19 outbreak's impact on the film and TV industry and the operator continued to lose pay-TV subscribers. Ongoing cost-reduction efforts helped limit the impact on profits, and AT&T said it was on track with its strategic investments, while conserving cash for the upcoming economic slowdown. Given the economic uncertainty, the group withdrew its guidance for the year. 

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Category:Telecommunications

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