AT&T Q2 Earnings Take $830 Million Hit From COVID-19, WarnerMedia Revenue Down 23%
Reading now: 482
variety.comTodd Spangler NY Digital EditorAT&T said sales for the second quarter of 2020 were lower across all of its segments because of the coronavirus pandemic.
That included a 22.9% plunge in WarnerMedia revenue, which the telco said was partly due to lower content and ad sales related to COVID-19.WarnerMedia’s Q2 2020 operating revenue was $6.8 billion, down 22.9% year over year, with segment operating income contribution of $1.9 billion, down 18.4% versus the year-ago quarter.
Turner’s advertising revenue plummeted 37%, to $796 million in the most recent quarter.Warner Bros. revenue for Q2 was $3.3 billion, down 3.9%, driven by “the absence of theatrical releases and lower games and other revenues.” That was partially offset by higher TV.
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
