An AT&T service van driving on a freeway.

Enlarge / AT&T service van driving in June 2019 in Oakdale, California. (credit: Getty Images | Andrei Stanescu)

AT&T thinks its TV-customer losses have peaked, but that isn't saying much, as the company has lost 5 million subscribers since 2016 and more than 1.3 million in the most recent quarter alone.

"It's tough and we'll go through it for the rest of this year. But we're optimistic we've hit the peak of losses in the third quarter," AT&T CFO John Stephens said at a Wells Fargo conference for investors yesterday, according to the Hollywood Reporter.

In Q3, AT&T reported a net loss of 1,163,000 customers in the premium TV category, which includes DirecTV satellite and U-verse wireline TV services. AT&T also reported a net loss of 195,000 customers of AT&T TV Now, the online streaming video service formerly known as DirecTV Now, bringing the total TV-customer loss to 1.36 million.

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