AT&T Sees Certain Trends Affecting 3Q; Affirms Cash Flow, Leverage Goals
September 11 2019 - 6:54PM
Dow Jones News
By Josh Beckerman
AT&T Inc. (T) said third-quarter revenue will be affected by
trends including lower wireless-equipment revenue driven by low
upgrade rates.
The company also said WarnerMedia faces a tough comparison to
last year's third quarter, which included strong box-office results
from "Crazy Rich Asians" and "The Meg."
In a shareholder update following a conference presentation,
AT&T said it continues to expect free cash flow in the $28
billion range for full-year 2019.
AT&T said that "given the company's confidence in reaching
its leverage target, investors should expect share buybacks will be
in the mix this year."
The company noted that its "hard line" on content negotiations
has helped it manage costs but has contributed to content provider
blackouts and premium subscriber losses. AT&T expects premium
TV subscriber trends to improve in 2020.
On Monday, Elliott Management Corp. disclosed a $3.2 billion
stake in AT&T, criticizing its acquisition strategy and calling
for it to sell some assets.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 11, 2019 18:39 ET (22:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
AT&T (NYSE:T)
Historical Stock Chart
From Mar 2024 to Apr 2024
AT&T (NYSE:T)
Historical Stock Chart
From Apr 2023 to Apr 2024
