AT&T ups forecast for revenue, HBO Max as business recovers from pandemic

AT&T Inc on Thursday raised its full-year financial forecast as the telecoms company emerged from the pandemic with more wireless and internet customers, and beat analyst estimates for phone subscribers and revenue in the second quarter.

The results come as AT&T is unwinding its expensive media investments to focus on its original business of providing phone and internet services.

Ahead of closing a deal to combine its media content with Discovery, AT&T said WarnerMedia continued to attract more customers to streaming service HBO Max and notched higher revenue as live sports and televised events resumed from the pandemic.