At the end of the first quarter, AT&T had about 55 million business wireless subscribers. Total video subscribers grew by 125,000 and the Entertainment Group ended the quarter with 25.4 million total video subscribers. DIRECTV NOW added 312,000 subscribers to reach nearly 1.5 million customers.
Related: AT&T reports Q1 2018 results; misses estimates
With regard to the AT&T-Time Warner merger, a federal appeals court approved the US Justice Department’s request for an accelerated schedule for an appeal of a judge’s ruling. The legal briefs must be closed by October 18. The department fears that the merged company will have the ability to raise its rivals’ costs and stifle growth on next-gen entrants.
For the second quarter, market analysts expect the company to report a 7.6% increase in earnings and a 1.1% decline in revenue. In the past four quarters, the company’s earnings missed Street’s expectations for two times, while beating predictions for two times. Majority of the analysts are recommending a HOLD rating on the stock.
Shares of AT&T closed Thursday’s regular trading session down 1.39% at $31.27 on the NYSE and reached a new 52-week low ($31.04) during Friday’s morning trading session.