- AT&T (NYSE:T -0.4%) is off 1.3% after hours following a Q2 report where the company met profit expectations but missed slightly on revenues that grew nearly 23% thanks to DirecTV.
- Entertainment group revenues rose 120% Y/Y, again thanks to the acquisition of DirecTV, which saw 342,000 adds. Total video declined 49,000 as the company continued to steer customers from its U-verse platform to the more profitable DirecTV.
- In Mobility, the company posted 2.1M net adds in North America (1.4M in U.S., including 257,000 postpaid and 365,000 prepaid). In Mexico, 780,000 branded net adds to hit about 10M subscribers.
- Business Solutions revenues were down 0.5% but flat after adjusting for divestiture and foreign exchange. Wireless service revenues rose 2.7%; strategic services revenue was up 8.4%.
- The company say it's "on track to meet or beat" guidance for full 2016 even with a ramp up in its Mexico investment.
- Conference call to come at 4:30 p.m. ET.
- Press Release