HBO And HBO Max Add 2.7M Subscribers In Q1, AT&T Reports As It Beats Wall Street Earnings Expectations

deadline.com:

On a combined basis, HBO and HBO Max added 2.7 subscribers in the first quarter, WarnerMedia parent AT&T reported.The solid returns on streaming helped the telco and media giant beat Wall Street expectations in the quarter.

Adjusted earnings of 86 cents a share rose 2% and beat analysts’ consensus forecast of 86 cents.Total revenue hit $43.9 billion, up almost 3% and ahead of the Street number.HBO Max, the nearly year-old streaming service available at no extra cost to HBO subscribers, propelled the overall HBO number to 44.2 million subscribers.

Average revenue per user was $11.72.Last year, WarnerMedia decided to give HBO Max additional ammunition by putting Warner Bros movies on the service at the same time they debut in theaters.