AT&T Tops Q4 Earnings Estimates, WarnerMedia Income Down 38% 

AT&T topped Wall Street estimates for the fourth quarter of 2021, with WarnerMedia revenue gains driving top-line results — helped by strong growth of HBO Max — although the division’s operating income dropped 38% on higher costs. The company also announced that it expects the WarnerMedia spinoff and merger with Discovery to close in the second quarter (previously, it pegged the close for mid-2022).

Source: AT&T Tops Q4 Earnings Estimates, WarnerMedia Income Down 38% as Discovery Merger Expected to Close in Q2

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