AT&T is offloading its media assets — but for now, those properties are paying dividends.
The company posted $44 billion in Q2 revenues on Thursday, a year-over-year boost of 7.6%, and only 2.2% below the pre-pandemic Q2 2019.
The company got a timely assist from the return of the NBA, which is key for WarnerMedia’s TNT and TBS.
- WarnerMedia’s revenues rose to $8.8 billion, up 30.7% from Q2 2020.
- The NBA’s impact was reflected in WarnerMedia’s 48.5% growth in advertising revenue to $1.7 billion.
- AT&T is in the process of spinning off WarnerMedia in a $43 billion merger with Discovery. DirecTV is selling $3.1 billion in junk bonds to expedite its own split from AT&T.
While the telecommunications giant is stepping away from owning media properties, it’s more than happy to be the support system for other major media players. AT&T is replacing T-Mobile as the Dish Network’s primary network services provider in a deal worth at least $5 billion.
AT&T showed the strength of its core offering, adding 1.16 million regular wireless customers in the quarter. That figure nearly quadrupled the 300,000 expected by analysts.
![Feb 15, 2025; Montreal, Quebec, CAN; [Imagn Images direct customers only] Team United States forward Matthew Tkachuk (19) and Team Canada forward brandon Hagel (38) fight in the first period during a 4 Nations Face-Off ice hockey game at the Bell Centre.](https://frontofficesports.com/wp-content/uploads/2025/02/USATSI_25429594_168416385_lowres-e1739674194139.jpg?quality=100&w=1024)
![Feb 20, 2025; Boston, MA, USA; [Imagn Images direct customers only] Team USA forward Brady Tkachuk (7) celebrates scoring against Team Canada during the first period during the 4 Nations Face-Off ice hockey championship game at TD Garden.](https://frontofficesports.com/wp-content/uploads/2025/02/USATSI_25467641-scaled-e1740194593487.jpg?quality=100&w=1024)
