AT&T posts 2.5% upward thrust in quarterly core wi-fi income

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An AT&T brand is observed at an AT&T retailer in New York Town, October 23, 2016. REUTERS/Stephanie Keith/Record Photograph

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April 21 (Reuters) – AT&T Inc (T.N) on Thursday posted a 2.5% upward thrust in income for its core telephone and web industry within the first quarter, because the telecom large benefited from the growth of its fiber web and 5G products and services.

The Dallas, Texas-based company – whose WarnerMedia unit finished its merger with Discovery Inc previous this month to shape the brand new media company Warner Bros. Discovery (WBD.O) – added 691,000 per month telephone subscribers all the way through the quarter.

AT&T is returning to its roots of offering wi-fi products and services after unwinding a years-long effort to grow to be a media and leisure corporate.

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Stocks of AT&T rose 1.5% to $19.73 in premarket buying and selling.

The corporate’s income for the standalone AT&T except WarnerMedia rose to $29.7 billion within the first quarter from $29 billion a 12 months previous.

Overall income, then again, was once down greater than 13%, reflecting the have an effect on of its divested satellite tv for pc TV industry and weak point in its industry wireline unit.

The corporate added 289,000 fiber web shoppers all the way through the quarter ended March 31.

Overall international subscribers for top rate TV channel HBO and streaming carrier HBO Max, which might be a part of WarnerMedia, rose by way of 3 million from the former quarter.

Internet source of revenue due to not unusual inventory fell to $4.8 billion, or 65 cents consistent with proportion, from $7.5 billion, or $1.02 consistent with proportion a 12 months previous.

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Reporting by way of Sonia Cheema and Eva Mathews in Bengaluru and Sheila Dang in Dallas; Modifying by way of Anil D’Silva, Bernadette Baum, Kirsten Donovan

Our Requirements: The Thomson Reuters Consider Rules.

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