AT&T ended the third quarter with 69.4 million global subscribers to HBO Max and HBO, up 12.5 million from a year ago and 1.9 million from the previous quarter. Total direct-to-consumer subscription revenue rose 25 per cent.

AT&T is backing out of D2C, spinning off DirecTV this year, and has made a deal to sell WarnerMedia, including HBO, to Discovery.

For the company, Q3 net income was $5.9 billion (€5bn), up from $2.8 billion a year ago. Revenue dropped 4.7 per cent to $39.9 billion reflecting the spinoff of DirecTV and other businesses.

At WarnerMedia, third quarter revenue rose 14.2 per cent to $8.4 billion. The company said it had higher content revenues and higher subscription revenues that offset lower ad revenue. Subscriber revenue was up 14.7 per cent to $4 billion as HBO Max added subscribers. There were 45.2 million domestic HBO and HBO subscribers at the end of the quarter, up 7.1 million from a year ago.

Operating income was $2 billion, up 15.2 per cent from last year.

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Tags: AT&T, directv, discovery, HBO, WarnerMedia