AT&T Reported Mixed 2Q Results with Wireless Improving, but Dragged Down by DirecTV
AT&T reported mixed second-quarter results with improving wireless results, but continued entertainment struggles. For now, we are maintaining our $40 per share fair value estimate and narrow moat rating. While the stock is trading below our fair value estimate, with all the moving parts from the recent acquisition of WarnerMedia, we would prefer a larger margin of safety before adding to a position. Reported revenue fell 2% year over year, but this was primarily due to a $900 million revenu...AT&T is a holding company. Through its subsidiaries, the company is a provider of telecommunications, media and technology services. The company's Communications segment provides wireless and wireline telecom, video and broadband services. The company's WarnerMedia segment includes media and entertainment businesses that principally develop, produce and distribute feature films, television content, and other content globally; and operate digital media properties. The company's Latin America segment provides entertainment services in Latin America and wireless services in Mexico. The company's XANDR segment relies on using data from its customer relationships, to develop digital and video advertising that is relevant to consumers.
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