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AT&T to Officially Acquire Time
AT&T revealed official plans to
acquire Time Warner for
$85.4 billion. The news of this transaction - which has been
unanimously approved by both companies' boards - follows reports
by Bloomberg Business
and other news outlets that senior executives from both
companies had been engaged in informal talks toward either
establishing a streaming media partnership or a potential
merger. This $107.50 per-share agreement is expected to give
AT&T, as it
noted in a press release, "content and ability to create new
premium content that connects with audiences around the world."
AT&T also acquired satellite TV provider
DIRECTV in July 2015.
165% Earnings Growth for Third Quarter
T-Mobile US reported a
strong upswing in its profits, year to year, for the 2016 third
quarter ended September 30, 2016. The carrier posted earnings
totaling $366 million, or $0.42 per share, which was up by 165%
over a 2015 Q3 net income of $138 million, or $0.15 per share.
Revenues, meanwhile, were $7.1 billion, which was up 3% from
2015 third quarter sales of $6.9 billion. In particular, Branded
postpaid revenue increased 10% year to year to $4.6 billion;
Branded prepaid revenue was up 5% to $2.2 billion; Wholesale
revenue grew 40% to $238 million; and Roaming and other service
sales increased by 61% to $66 million. The period also marked
the 14th consecutive quarter in which T-Mobile generated more
than one million net customer additions, with Branded postpaid
pulling in 969,000 new customers alone. Branded prepaid
additions were 684,000, meanwhile, while Wholesale new customer
additions were 317,000. "T-Mobile is the only provider," it
noted, "to grow both postpaid and prepaid [customers] for
the past 13 quarters in a row."
Improved Q3 Profits, Revenues
AT&T reported that its
profits and revenues both increased year to year for the 2016
third quarter ended September 30, 2016. The carrier posted
earnings of $3.3 billion, or $0.54 per share, which was up 10%
from 2015 third quarter profits of $3 billion, or $0.50 per
share. Revenues, meanwhile, were $40.9 billion, which was up 5%
from 2015 third quarter sales of $39.1 billion. By business
segment, Business Solutions revenue was a flat $17.8 billion;
Enterprise Group sales increased 17% year to year to $12.7
billion; Consumer Mobility revenue fell 6% to $8.3 billion; and
International revenue grew by 27% to $1.9 billion. AT&T also
revealed that it had 1.48 million net customer additions for the
quarter, which was down from 1.875 million new customers in the
third quarter of 2015.
Brady Hicks, Faulkner Information Services
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