2020-09-10 16:12:28 T AT&T
09/10/20 09/1016:12 09/10/2016:12 | AT&T CFO sees limited visibility on extent, duration of COVID impactThe company states: "John Stephens, CFO of AT&T Inc, spoke recently at the Bank of America Securities 2020 Media, Communications & Entertainment Conference where he provided an update to shareholders. Confident in ability to generate strong cash flows. Stephens said that the company continues to have limited visibility into the extent and duration of the impact of COVID and resulting government actions on the economy. In addition, while WarnerMedia continues to be impacted in areas such as the timing of theatrical releases as well its production schedule, the resumption of sports is expected to shift the timing of advertising revenues and costs into the third quarter from the second quarter. Despite these fluid dynamics, Stephens reiterated that AT&T remains confident in its ability to generate strong cash flows given the resiliency of wireless and broadband services and continued demand for business connectivity. Stephens said the wireless market remains very competitive but that AT&T continues to see benefits from its investment in significantly improving network capacity over the past few years. HBO Max traction continues. AT&T is pleased with the initial success of HBO Max, including its activation growth and solid levels of viewer engagement. The company continues to see weekly viewing hours for HBO Max that are significantly higher than for HBO Now." |
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