Analyst Commentary

AT&T’s aggressive promotional strategies improve subscriber growth but diminish margins in 1Q18

Smartphone promotions and DirecTV Now bolster subscriber growth in 1Q18

AT&T’s consolidated revenue fell 3.4% year-to-year to $38 billion due to declines within AT&T’s Business Solutions and Entertainment Group divisions coupled with the impact of the industry’s new ASC 606 revenue recognition standard implemented in 1Q18. DirecTV Now mobile video bundles are helping to cement AT&T’s customer base and contributed to improved video (+125,000 versus -161,000) and postpaid phone (-22,000 versus -348,000) net addition...

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