The U.S. telecom industry busied itself solely with third-quarter 2017 earnings releases.
On the earnings front, national wireless carrier T-Mobile US Inc. (TMUS – Free Report) reported strong financial numbers in the third quarter of 2017. While the company’s net income outpaced the Zacks Consensus Estimate, revenues were almost in line. The company also raised its financial outlook for 2017. T-Mobile US gained added net 0.595 million branded postpaid phone customers, 0.222 million branded postpaid other customers, 0.226 million branded prepaid customers and 0.286 million wholesale customers.
On the other hand, U.S. telecom behemoth AT&T Inc. (T – Free Report) reported disappointing third-quarter 2017 financial results. Both the top and the bottom line of the company missed the Zacks Consensus Estimate. Importantly, in the domestic market, net additions of its postpaid wireless subscribers declined a massive 44.8% year over year. AT&T lost 251,000 satellite TV customers and 134,000 U-verse TV customers. However, it gained 296,000 DIRECTV NOW connections.
Meanwhile, Sprint Corp. (S – Free Report) , the fourth largest national telecom carrier, reported mixed financial results in the second quarter of fiscal 2017, wherein the top line lagged the Zacks Consensus Estimate but the bottom line came in better-than the estimate.
Comcast Corp. (CMCSA – Free Report) , the largest cable MSO (multi service operator), reported mixed financial results in the third quarter of 2017. While the top line failed to meet the Zacks Consensus Estimate, the bottom line surpassed the same.The company added a net of 214,000 high-speed Internet customers and 51,000 security and automation customers. However, it lost 94,000 voice customers and 125,000 video customers in the reported quarter.
Charter Communications Inc. (CHTR – Free Report) , a leading cable MSO, reported disappointing financial results in third-quarter 2017, wherein both the top and the bottom line lagged the Zacks Consensus Estimate.Charter Communications’ residential high-speed Internet subscribers increased 249,000 to 22.282 million. Voice subscribers grew 27,000 to 10.405 million. However, video subscribers decreased 104,000 to 16.542 million.
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