WarnerMedia Posts Q2 Growth

AT&T reported second-quarter revenues of $45 billion, with WarnerMedia up by 5 percent to $8.4 billion.

“We’re halfway through the year and on track to deliver on all our 2019 priorities,” said Randall Stephenson, AT&T’s chairman and CEO. “WarnerMedia delivered another strong quarter with both revenue and operating income growth. And our Entertainment Group profitability continued to stabilize, and even grow. Across the board, it was a solid quarter that puts us in position to have a really strong year.”

WarnerMedia’s gains were driven by Warner Bros. and Turner. Warner Bros. revenues rose to $3.4 billion, HBO was stable at $1.7 billion and Turner’s revenues rose to $3.4 billion. In the Entertainment Group, meanwhile, DIRECTV lost 778,000 net subs and DIRECTV NOW 168,000.