-=Time Warner (TWX) reported earnings on Thur 26 Apr 2018 (b/o); being acquired by AT&T (T)

Time Warner beats by $0.54, reports revs in-line; being acquired by AT&T 

• Reports Q1 (Mar) earnings of $2.28 per share, excluding non-recurring items, $0.54 better than the Capital IQ Consensus of $1.74; revenues rose 3.4% year/year to $8 bln vs the $7.93 bln Capital IQ Consensus due to growth at Turner and Home Box Office, partially offset by a decline at Warner Bros. Adjusted Operating Income decreased 8% to $2.0 billion due to declines at all operating divisions, partially offset by positive intersegment eliminations.
• "We look forward to the resolution of the legal challenge to our pending merger with AT&T and remain excited about the benefits of the merger, such as the potential to further strengthen our businesses by accelerating our innovation and increasing our ability to connect more directly with consumers."
• Company continues to expect its 2018 full-year Adjusted Operating Income to increase in the high single-digits, based on current foreign exchange rates.
• DOJ case vs. AT&T (T), trying to block its acquisition of TWX, is winding down.

AT&T (T) reported earnings on Wed 25 Apr 2018 (a/h)
AT&T misses by $0.03, misses on revs; reaffirms guidance 

• Reports Q1 (Mar) earnings of $0.85 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus of $0.88; revenues fell 3.4% year/year to $38.04 bln vs the $39.36 bln Capital IQ Consensus. On a comparative basis, declines in legacy wireline services, domestic video, and wireless service revenues, were partially offset by growth in wireless equipment and strategic business services. On a comparative basis, revenues were $38.9 billion, a decrease of 1.1%.
• U.S. wireless results: Strong year-over-year improvement in postpaid phone net adds Continued prepaid growth with 192,000 phone net adds Best-ever first-quarter postpaid phone churn of 0.84%
• Entertainment Group results: 312,000 DIRECTV NOW net adds to reach nearly 1.5 million subscribers 125,000 total video net adds with DIRECTV NOW stabilizing total video customer base since DIRECTV acquisition 154,000 IP broadband net adds; 82,000 total broadband net adds; more than 8 million customer locations passed with fiber