AT&T ended the third quarter with 69.4 million global subscribers to HBO Max and HBO, up 12.5 million from a year ago and 1.9 million from the previous quarter. Total direct-to-consumer subscription revenue rose 25 per cent.
AT&T is backing out of D2C, spinning off DirecTV this year, and has made a deal to sell WarnerMedia, including HBO, to Discovery.
For the company, Q3 net income was $5.9 billion (€5bn), up from $2.8 billion a year ago. Revenue dropped 4.7 per cent to $39.9 billion reflecting the spinoff of DirecTV and other businesses.
At WarnerMedia, third quarter revenue rose 14.2 per cent to $8.4 billion. The company said it had higher content revenues and higher subscription revenues that offset lower ad revenue. Subscriber revenue was up 14.7 per cent to $4 billion as HBO Max added subscribers. There were 45.2 million domestic HBO and HBO subscribers at the end of the quarter, up 7.1 million from a year ago.
Operating income was $2 billion, up 15.2 per cent from last year.