AT&T Inc. (NYSE:T) reported fourth-quarter results that showed continuing subscriber growth in wireless, fiber, and HBO Max while continuing to reflect strong cash flows and financial strength.
AT&T’s consolidated revenues for the fourth quarter totaled $45.7 billion versus $46.8 billion in the year-ago quarter. The COVID-19 pandemic impacted revenues across most businesses, particularly WarnerMedia and domestic wireless service revenues, which were pressured by lower international roaming.
For the quarter, revenue declines included domestic video, Warner Bros. television and theatrical products, legacy wireline services, and Latin America, which includes foreign exchange pressure. These declines were partially offset by higher domestic wireless revenues, primarily from equipment sales.
For full-year 2020 when compared with 2019 results, AT&T’s consolidated revenues totaled $171.8 billion versus $181.2 billion. The COVID-19 pandemic impacted revenues across all businesses, particularly WarnerMedia and domestic wireless service revenues, which were pressured by lower international roaming.
Declines at WarnerMedia included lower content and advertising revenues, in part due to COVID-19. Revenues also declined in the domestic video, legacy wireline services, and Latin America, which was impacted by foreign exchange pressures.
Growth from domestic wireless equipment and strategic and managed services partly offset these declines.