HBO and HBO Max added 2.8 million subscribers in the second quarter, reaching 47 million in the U.S. and helping parent AT&T beat Wall Street forecasts. Total AT&T revenue of $44 billion ro…
Total AT&T revenue of $44 billion rose almost 8% from the year-earlier period and topped analysts’ consensus estimate of $42.6 billion. Earnings per share went up 7% to 89 cents, well ahead of analysts’ outlook of 79 cents., revenue surged 31% to $8.8 million in the quarter, which ended June 30, as comparisons with the rough 2020 quarter grew favorable. Advertising revenue zoomed 49% as sports returned to form.
HBO Max, which launched in May 2020 amid the coronavirus pandemic, has now topped 67 million global subscribers. AT&T upped its subscriber guidance to between 70 and 73 million subscribers by the end of 2021. At the end of the second quarter of 2020, HBO and HBO Max had 36.3 million subscribers, and 55.6 million worldwide. The company said in its earnings release that the domestic HBO/HBO Max subscriber tally consists of U.S. accounts “with access to HBO Max .
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