AT&T reports Q1 2016 earnings: $40.5 billion in revenue, adds 2.3 million wireless customers
AT&T has reported its earnings for the fourth fiscal quarter of 2016, noting yet another big bump in consolidated revenues due to its recent DirecTV acquisition, along with respectable wireless subscriber growth.
In all, AT&T says that it brought in consolidated revenues of $40.5 billion, in Q1, which is up 24% compared to the same period a year ago.
On the wireless division specifically, AT&T says that it added 2.3 million customers in North America, with 1.8 million added from the U.S. and 529,000 from Mexico. It also stated that it had 712,000 branded (postpaid and prepaid) phone net adds for the quarter as well. Postpaid churn for the quarter was 1.10% with a total churn of 1.42%. Here are the highlights:
- Consolidated revenues up 24%, largely reflecting DIRECTV acquisition
- Adjusted EPS up 10.8%, fourth straight quarter of double-digit growth (above consensus)
- Entertainment Group has strong satellite, IP broadband growth and improved margins
- 328k satellite video adds
- More than 3M wireless subs on unlimited wireless bundled with video
- 186k IP broadband net adds
- 2.3 million North American wireless net adds driven by connected devices, Mexico and Cricket
- U.S. net adds of 1.8M; 529k net adds in Mexico
- 712k North American branded phone net adds
- Postpaid churn of 1.10%
- Stable domestic total churn of 1.42%;Cricket driving total prepaid churn lower
- Strong growth in AT&T Mexico with 4G LTE covering 51M POPs, on target to reach 75M by EOY
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I have been writing professionally about technology and gaming news for 14 years.