(AP) — Shares of AT&T slid Wednesday as the wireless and entertainment company reported that its TV customer losses continued in the first quarter.

AT&T Inc., which owns DirecTV, said it lost 627,000 video customers in the January-March quarter. Its DirecTV Now streaming service, a cable alternative launched in 2016, lost customers for the second quarter in a row as the company ends deep discounts for the service.

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The Dallas company plans to launch another streaming service focused on HBO and the WarnerMedia library, which it also owns, later this year. It will compete with a growing number of streaming services, including new ones from Disney and Comcast.

The country’s second-largest wireless carrier after Verizon added 80,000 cellphone customers who pay a monthly bill, the more lucrative type of wireless customer. AT&T also added “prepaid” cellphone customers.

The WarnerMedia division, which houses its TV networks and movie studio, got a boost from the box office of “Aquaman.”

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Overall, AT&T reported net income of $4.1 billion, or 56 cents per share, down from $4.66 billion, or 75 cents per share, in the same quarter the year before.

Earnings, adjusted for one-time gains and costs, were 86 cents per share, beating analysts’ estimate by 1 cent. Revenue grew 18 percent to $44.83 billion in the period, which missed Street forecasts. Thirteen analysts surveyed by Zacks expected $45.09 billion.

AT&T shares dropped $1.27, or 4%, or $30.83 in late morning trading. They had increased 13% since the beginning of the year.

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