AT&T Stock Rises After Posting 1.3 Million Subscriber Adds

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People walk past an AT&T store on 6th Avenue in New York, on May 17, 2021.


Timothy A. Clary/AFP/Getty Images

Shares of

AT&T

rose in premarket trading Wednesday after the Dallas telecommunications and media giant said postpaid net additions were1.3million in the fourth quarter.

For 2021, postpaid phone net adds were 3.2 million, reflecting the company’s highest annual postpaid phone net adds in more than a decade.

The stock was rising 1.3% to $25.97 in premarket trading Wednesday. The stock fell more than 14% last year.

AT&T (ticker: T) also reported the addition of roughly 270,000 fiber subscribers for the quarter and 1 million for the year. The company also said it had 73.8 million HBO Max and HBO subscribers globally at the end of 2021; higher than management forecasts of 70 million to 73 million subscribers.

The European Commission earlier this week gave approval to

Discovery

‘s merger with WarnerMedia. AT&T agreed last May to merge its WarnerMedia business, which includes HBO, CNN and TBS channels, with Discovery and its TLC and HGTV channels.

Write to Karishma Vanjani at karishma.vanjani@dowjones.com

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