Page 2 - Executive John Stankey News Today

July 21 (Reuters) - AT&T Inc (T.N) said some subscribers are taking more time to clear their bills, which partly led the U.S. wireless carrier to cut its

By Eva Mathews and Samrhitha A

AT&T Inc. said it would roughly halve its dividend payout and divest itself of its WarnerMedia division through a spinoff that would give shareholders 0.24 share for each AT&T share they own, a move that would complete its retreat from the entertainment business.

Share: On Thursday, AT & T (NYSE: T) posted strong wireless subscriber growth as it saw its first-quarter revenue rise, reflecting that its WarnerMedia business is continuing its recovery from effects brought on by the pandemic. Revenue and earnings topped FactSet estimates. First Quarter Figures With $43.9 billion  in revenue, adjusted earnings amounted to 86 cents a share on revenue of, up from last years 84 cents in adjusted earnings per share on a revenue of $42.8 billion. WarnerMedia rev...

Provided by Dow Jones By Drew FitzGerald AT&T Inc. piled on more cellphone users, fiber-optic internet customers and HBO viewers during the first quarter, showing the media-and-telecom conglomerates focus on growth as the economy starts to roar back after a year of coronavirus-related pressure. The Dallas company reported 44.2 million domestic HBO and HBO Max subscribers, up from 41.5 million three months earlier, as its media division sought to gain on rivals lik...

Provided by Dow Jones By Drew FitzGerald AT&T Inc. booked a $15.5 billion charge on its pay-TV business, reflecting the damage cord-cutting has taken on its DirecTV satellite unit even as the companys HBO Max streaming services growth ramped up. The write-down created a fourth-quarter loss as the media-and-telecom giant weighs the potential sale of its pay-TV assets and executives focus their investments on newer technologies. The company reported quarterly revenu...