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Earnings Outlook: AT&T and Comcast earnings: What to watch for this week

Telecommunications companies like AT&T Inc. T, +1.07% and Comcast Corp. CMCSA, -0.28% are grappling with an ever-growing challenge from streaming giant Netflix Inc.

The two largest pay-TV providers in the U.S. have seen their pay-TV subscriber numbers shrink in recent years as customers look to cheaper streaming options from Netflix NFLX, +1.10% and Hulu, among others. And in the last few months, they’ve spent tens of billions of dollars acquiring media assets they hope will bring customers back.

AT&T, which announces third-quarter earnings on Wednesday morning, completed an $81 billion acquisition of Time Warner, now known as WarnerMedia, in June.

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