And the video business, which is now run separately from the telco’s broadband and legacy voice operations, posted operating revenues of $7.2 billion in Q4, down from $8.1 billion in the year-earlier period.ĪT&T said it has reexamined the book values of its video assets and as a result recorded an impairment charge of $15.5 billion. The cord-cutting trend continued, with AT&T’s video customers sliding to 17.2 million at year-end from 20.4 million 12 months earlier. Of course, those figures show a fair amount of cannibalisation, which is also evident in AT&T’s figures for its video business overall. That figure compares with about 35 million HBO customers at the end of 2019, prior to the launch of the streaming service. And about 7 months later, we had more than 41 million HBO Max and HBO domestic subscribers, 2 years ahead of the plan we shared with you in October of 2019,” Stankey said. “And perhaps most remarkable during this pandemic, we launched HBO Max.

“We added 1.5 million postpaid phones during the year, our most net adds in a decade,” he said, according to a transcript of the call, while fibre customer additions were north of 1 million. AT&T is upbeat about its performance in the final quarter of last year – and 2020 as a whole – thanks largely to customer growth at its mobile and HBO Max video streaming unit.īut the telco also glossed over a hefty writedown on the value of its video business, continued cord-cutting, and lacklustre guidance for the coming year.Ĭhief executive John Stankey opened the US telco’s earnings call by talking up strong customer growth in certain key segments.

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