HBO and HBO Max gained 3 million subscribers before splitting from AT&T
The lion's share of new HBO/HBO Max subs were in the US , and the services now count 48.6 million subscribers domestically and 76.8 million worldwide. That's up 12.8 million over last year, showing solid growth.
However, it was still a drag on parent AT&T . WarnerMedia revenue was down 32.7 percent over last year to $1.3 billion due to investments in HBO Max and theThat's essentially why AT&T decided to divest WarnerMedia and focus strictly on its core telecom business. To wit, the company announced its largest gain in post-paid phone net additions in more than a decade. Excluding WarnerMedia and other divested businesses, AT&T revenue was $29.7 billion, up 2.
With WarnerMedia and Discovery divested, AT&T plans to invest any free cash in 5G and fiber deployments "AT&T has entered a new era," said CEO John Stankey in a prepared statement during the company's earnings call. All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
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