Television

Q3-2015: DirecTV acquisition jacks up AT&T revenue 18.9%

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BENGALURU: The claimant to the world?s largest Pay TV service provider title in terms of subscriber?s, AT&T reported 26000 net domestic video subscriber adds to its recently acquired company DirecTV in the quarter ended 30 September, 2015 (Q3-2105, current quarter). However, the company lost 92000 of its Uverse (Fiber Optic) Pay TV subscribers in the US and 178,000 video subscribers in total including from its International segment.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

Subscription numbers have been mentioned in lakhs and revenue and other financial numbers in millions of US dollars.

Four segments add to AT&T?s numbers ? Business Solutions; Entertainment and Internet Services (EIS); AT&T Mobility; and International. In this report, numbers of two have been considered ? EIS and International since they relate to video and wireless broadband.

AT&T?s GAAP revenue in the current quarter increased 18.1 per cent to $39,091 million as compared to the $33,105 million in the immediate trailing quarter. The company reported a 4.3 per cent decline in GAAP net income attributable to AT&T of $2994 million as compared to the $3,130 million in Q3-2015. The company says that revenue growth in the current quarter was driven by the DirecTV acquisition, which added sales and created cost synergies.

At the time of the DirecTV acquisition, AT&T said that it had about 26 million video customers in the United States and more than 19.1 million customers in Latin America, including Mexico and the Caribbean, including DirecTV subscribers. As on 30 September, 2015, AT&T has reported 379.94 lakh video subscribers, of which 195.7 lakh are DirecTV connections and 58.54 lakh are Uverse connections in the US.

?We now have integrated solutions that are unlike any competitor in the market. With our national wireless and video capabilities, as well as our extensive broadband network, we now have assets that make us a unique competitor and the first scaled, fully-integrated US service provider,? said AT&T chairman and CEO Randall Stephenson.

?We turned in outstanding financial results in the quarter. Our early integration efforts with DirecTV are going very well and we?ve just begun to scratch the surface on the video, wireless and broadband cross-selling opportunities,? Stephenson added.

AT&T?s EIS segment had 526.37 lakh revenue connections as on 30 September, 2015 including 128.91 lakh legacy voice wireline connections besides video and broadband internet connections.

As a consequence of the DirecTV acquisition on 24 July, 2015 and subsequent restructuring of segments, GAAP operating video revenue of the Entertainment and Internet services segment in the current quarter multiplied to $7162 million as compared to the $1719 million in the corresponding year ago quarter. Besides, the company?s International segment also reported Video revenue of $945 million in the current quarter.

AT&T?s EIS segment reported GAAP operating revenue of $10858 million in the current quarter as compared to the $5553 million in Q3-2014 because of the DirectTV acquisition and restructuring. The segment has reported a GAAP operating profit of $1021 million as compared to a loss of $337 million in Q3-2014 and a loss of $208 million in the immediate trailing quarter.

AT&T?s Entertainment and Internet Services (EIS) segment had 143.22 lakh broadband internet subscribers (121.85 lakh IP and 21.37 lakh DSL) as 30 September, 2015 as compared to 144.65 lakh (110.1 lakh IP and 34.53 lakh DSL) in the corresponding year ago quarter. The segment reported GAAP revenue of $1685 million from broadband internet services in the current quarter as compared to the $1414 million in Q3-2014.

Legacy voice and data services reported GAAP revenue of $1419 million in the current quarter as compared to the $1834 million in Q3-2014 and $1516 million in the immediate trailing quarter.

The company?s International segment reported GAAP revenue of $1526 million in the current quarter and an operating loss of $87 million. Figures for the corresponding year ago quarter have not been mentioned.

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