HBO reports 'lower domestic linear subscribers' for its second quarter, 'partially offset by higher digital and international growth'
Telecom giant AT&T, led by chairman and CEO Randall Stephenson, on Wednesday reported higher second-quarter operating income for its WarnerMedia entertainment unit amid growth at Turner, Warner Bros. and HBO, and said it lost 168,000 subscribers at its DirecTV Now streaming service in the period due to "higher prices and less promotional activity."
The company also lost 778,000 traditional pay TV subscribers in the second quarter between its DirecTV satellite TV and U-Verse services after losing 544,000 in the first quarter, citing "an increase in customers rolling off promotional discounts, competition and lower gross adds due to a focus on the long-term value customer base."
Warner Bros. operating income jumped 30 percent in the second quarter to $440 million as film revenue rose 13.4 percent "primarily from home entertainment revenues" and video games and other revenue increased nearly 28 percent "largely from the successful launch ofHBO's operating income grew 0.7 percent to $573 million in the second quarter, even though subscription revenue declined "due to lower domestic linear subscribers.
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