AT&T: Financial Projections Don't Work - Part 1

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About: AT&T Inc. (T), Includes: AAPL, CMCSA, DIS
by: Stone Fox Capital
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Stone Fox Capital
Long/short equity, growth at reasonable price, research analyst, Deep Value
Summary

AT&T provided investors several different financial projections last week, including for HBO Max.

The media giant doesn't forecast the video streaming service to generate material revenues until reaching $2 billion in annual sales in 2022.

HBO Max only contributes 0.5% to annual revenue growth for AT&T.

The touted 50 million domestic subscriber base only includes a forecast for 16 million additional subscribers.

AT&T (NYSE:T) had an incredibly busy schedule last week. The wireless and media company announced Q3 earnings, provided financial targets through 2022 and hosted a media event to launch HBO Max.

The