AT&T takes a $600-million hit from coronavirus crisis [Los Angeles Times (CA)]
AT&T Inc. (T)
Last at&t inc. earnings: 4/22 06:54 am
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Source: Los Angeles Times
AT&T Inc. posted a 4.5% drop in revenue from a year ago and withdrew its forecast of 2% revenue growth for the year, saying it can’t provide a financial forecast for 2020 due to the coronavirus outbreak . The COVID-19 crisis hurt earnings by 5 cents a share in the first quarter and knocked $600 million off revenue due to lower ad sales from canceled sports events like the NCAA men’s basketball tournament. “The economic effects of the pandemic and resulting societal changes are currently not predictable,” the company said. But the U.S. stay-at-home orders, which started in mid-March, did help improve some of AT&T’s slumping consumer businesses. Homebound customers craving videoconferencing and cellular connections helped boost broadband and wireless numbers. AT&T added a total of 27,000 regular monthly wireless subscribers, exceeding analysts’ prediction for a loss of 132,000. That number includes a loss of tablet customers, offset by 163,000 new mobile-phone customers. And demand for
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News
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T
Earnings
- 10/22/25 - Miss
T
Sec Filings
- 1/5/26 - Form 4
- 1/5/26 - Form 4
- 1/5/26 - Form 4
- T's page on the SEC website