AT&T Just Lost Over 1 Million TV Subscribers -- And It's Going to Get Worse

AT&T (NYSE: T) reported 897,000 premium TV subscriber losses in the first quarter to go along with its loss of 138,000 over-the-top subscribers. The combined total makes it the third consecutive quarter in which AT&T's lost over 1 million video subscribers.

The subscriber losses are absolutely staggering compared to its biggest competitor, Comcast (NASDAQ: CMCSA). Comcast lost 733,000 video subscribers in all of 2019, but management did note losses will increase this year during its fourth-quarter earnings call.

To make matters worse, AT&T's management thinks there's a good possibility its subscriber losses will get worse throughout the rest of the year due to the economic effects of COVID-19.

Source Fool.com