AT&T Inc. (T) added 326,000 postpaid phone subscribers in the second quarter, nearly 60% lower than a year earlier. U.S. telecom market growth has slowed dramatically after the pandemic, and companies are offering cheaper plans to attract customers in the highly competitive market.
Moreover, the company is exploring options for DirecTV as Pay-TV Subscriptions continue to decline. DirecTV has been losing subscribers as it struggled to compete with streaming networks in recent years. It lost about 400,000 customers in the second quarter, bringing its total subscriber count to 12.4 million. This has also led to a drop in cash distribution that AT&T gets from DirecTV.
