{"id":70263,"date":"2023-10-08T15:31:05","date_gmt":"2023-10-08T19:31:05","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/att-considers-divesting-directv-stake-amid-declining-fortunes\/"},"modified":"2023-10-08T15:31:08","modified_gmt":"2023-10-08T19:31:08","slug":"att-considers-divesting-directv-stake-amid-declining-fortunes","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70263","title":{"rendered":"AT&T considers divesting DirecTV stake amid declining fortunes"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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AT&T’s shares faced a dip of up to 6% on Friday, as market speculation emerged about the company possibly divesting its 70% stake in DirecTV. The stake, co-owned with TPG since the formation of their joint venture in 2021, is valued at $16 billion. This consideration comes as DirecTV’s financial health has been deteriorating, marked by a significant drop in cash distributions to AT&T and a loss in subscribers.<\/p>\n

In the first half of 2023, cash distributions to AT&T from DirecTV fell by nearly $1.885 billion, a year-on-year decrease of 30%. DirecTV’s subscriber base has also seen a considerable reduction. The company lost approximately 400,000 subscribers, bringing the total count down to roughly 12.4 million.<\/p>\n

Despite the current turbulence, AT&T, with a market cap of $103.31 billion, remains a prominent player in the Diversified Telecommunication Services industry, according to InvestingPro Tips. This is a testament to its resilience and ability to adapt to changing market conditions.<\/p>\n

One of the significant strengths of AT&T is its commitment to shareholders. As per InvestingPro Tips, the company has maintained dividend payments for 40 consecutive years. With a dividend yield of 7.63%, AT&T continues to reward its shareholders despite its recent challenges. This commitment to shareholder value, coupled with a strong free cash flow yield, suggests that AT&T is well-positioned to weather the current storm.<\/p>\n

The speculation about AT&T’s potential divestment from DirecTV has fueled uncertainty about the future of the satellite TV service provider. AT&T can potentially divest after the three-year commitment to the joint venture with TPG ends on July 31, 2024. If this divestment occurs, it could indicate a strategic shift for AT&T towards focusing more on its core wireless and broadband operations.<\/p>\n

InvestingPro’s real-time metrics reveal that AT&T’s revenue for LTM2023.Q2 stands at $121.44 billion, with a gross profit of $71.51 billion, indicating a gross profit margin of 58.89%. Despite the negative revenue growth of -0.27%, the company has managed to maintain a positive quarterly revenue growth of 0.92%.<\/p>\n

InvestingPro’s fair value estimate for AT&T is $18.62, providing a potential upside for investors from the previous close price of $14.55. For more insights and tips, investors can visit InvestingPro which offers a wealth of additional tips and real-time metrics.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. AT&T’s shares faced a dip of up to 6% on Friday, as market speculation emerged about the company possibly divesting its 70% stake in DirecTV. The stake, co-owned with TPG since the formation of their joint venture in 2021, is valued at $16 billion. This consideration comes as DirecTV’s financial health has been […]<\/p>\n","protected":false},"author":1,"featured_media":70264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-70263","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAT&T considers divesting DirecTV stake amid declining fortunes | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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