WarnerMedia revenue hit just $10 billion in Q4

The final year of AT&T’s WarnerMedia ownership ends in December 2021. Q4 itself was a strong year for the entertainment segment, with WarnerMedia posting revenue of $9.9 billion, up 15.4%. . That’s good news for Discovery, which will soon merge with WarnerMedia pending regulatory approval.

In other good news — primarily for AT&T shareholders — AT&T topped media analysts’ fourth-quarter estimates in both the upper and lower lines.

Wall Street forecasts fourth-quarter earnings per share (EPS) of 76 cents on revenue of $40.43 billion, according to a consensus compiled by yahoo finance. On Wednesday, AT&T reported adjusted EPS of 78 cents on revenue of $41 billion.

“A year and a half ago, we began simplifying our business to reposition AT&T for growth, and we are extremely pleased with how we have delivered on that commitment,” said John Stankey, AT&T’s CEO said in a statement accompanying his company’s finances. “We ended 2021 the way we started – by developing relationships with our customers, running our operations more efficiently and effectively, and enhancing our focus. Our momentum is strong and we are confident that there are more opportunities to continue to grow our customer base and increase costs from doing business.

“We are at the dawn of a new era of connectivity,” he continued. “Our focus right now is on being the best US connectivity provider and also making sure our media assets are positioned to grow and truly become a distributed service provider. global media distribution. Once we do this, we will unlock the true value of these businesses and provide a great opportunity for shareholders.”

Earlier this month, AT&T revealed that HBO and HBO Max aggregate for 73.8 million global subscribers at the end of the fourth quarter. Thanks to the “Sex & the City” sequel series “And Just Like That”, the third installment of “Succession”, “The Matrix Resurrections” and “King Richard” for a particularly powerful kick towards the end. . (“Dune” was the big hit in Q4, “The Many Saints of Newark” was less successful.)

In early 2022, momentum isn’t slowing: HBO Max’s “20th Anniversary Harry Potter: Return to Hogwarts” special got the platform’s best start since the HBO “Friends” reunion. said at the time.

WarnerMedia launched an ad-supported version of HBO Max, priced at $9.99 per month, on June 2, more than a year after the commercial-free option launched in May 2020.

AT&T is in the process of transforming its WarnerMedia conglomerate into a partnership with Discovery, Inc. That merger is expected to close in mid-2022. The combined company will be run by David Zaslav, a longtime director of Discovery. The full valuation of the new organization, named Warner Bros. Discovery, is estimated at $130 billion.

Shares of AT&T stock (T) closed Tuesday at $26.48 per share. The US stock market reopened at 9:30 a.m. ET this morning.

AT&T executives will hold a conference call at 8:30 a.m. ET / 5:30 a.m. PT to discuss the company’s Q4 and full-year 2021 performance in more detail. .

More to come…

https://www.thewrap.com/att-q4-earnings-warnermedia-revenue-10-billion/ WarnerMedia revenue hit just $10 billion in Q4

Curtis Crabtree

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