Economy

AT&T Mexico sales surge 27% in Q3, adds another 700000 subs

AT&T Mexico sales surge 27% in Q3, adds another 700000 subs”

The telecom giant was bolstered by 3 million net adds for its wireless business.

The company said revenues declined largely due to quarter declines in legacy wireline services and consumer mobility.

"We continued to operate our business efficiently in the quarter", CEO Randall Stephenson said in a statement. Postpaid phone churn came to 0.84 percent for the quarter, which AT&T attributed to "the success of video and wireless bundling strategy".

As anticipated, DirecTV Now, the company's over-the-top streaming service launched previous year, added about 300,000 subscribers. Adjusting for $0.25 of costs for amortization, merger- and integration-related expenses and other items including hurricane and natural disaster impacts, earnings per diluted share was $0.74, the same as in the year-ago quarter. About 85% of the traditional AT&T video base is now on the satellite platform. Earlier this year the company announced the deployment of an LTE-M network for IoT devices in Mexico, which remains on target for completion by the end of 2017. Its bid for Time Warner Inc., the owner of CNN, Warner Bros. studios and Turner's cable networks, was created to protect its core business in the same way Comcast has guarded its cable operations by owning the film and TV assets of NBCUniversal.

Earlier this week, AT&T passed - and extended - its own deadline to close its mega Time Warner buyout, as it waits on the final yay or nay from the U.S. Department of Justice.

On Tuesday, AT&T said it had spent $152 million on costs related to the planned merger through September 30.

Overall, AT&T's third-quarter profit fell 9% to $3.03 billion, or 49 cents a share, as revenue slid 3% to $39.67 billion.

The company reported adjusted earnings of 74 cents per share on revenue of $39.7 billion.

Monthly churn, a measure of how many customers dropped wireless service, edged up to 1.07%, from 1.05%, driven by cancellations among tablet users.

Operating expenses for the quarter were $33.3 billion, compared with $34.5 billion a year prior. Total DirecTV subscribers at the end of the quarter were 13.5 million. T-Mobile US Inc. added 817,000 postpaid subscribers.



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