Overall, AT&T revenue declined 9% year-on-year to $45bn in Q2.
AT&T’s WarnerMedia division has felt the brunt of the downturn owing to the Covid-19 pandemic, with $1.5bn in lost revenue.
Overall, AT&T revenue declined 9% year-on-year to $45bn in Q2.
WarnerMedia’s Q2 operating revenue was $6.8bn, down 22.9% year on year, with segment operating income contribution of $1.9bn, down 18.4% versus the year-ago quarter.
Furthermore, WarnerMedia advertising revenues recorded $620m in losses, and video advertising took a $170m hit due to the pandemic.
WarnerMedia is looking to resume production starting next month, but newly appointed AT&T CEO John Stankey told analysts on the earnings call that it will take some time for it to return to February 2020 levels. Production was “critical” to driving growth for HBO Max, he added.
