HomeIndustriesAT&T Falls Short on Cash Flow, Beats Subscribers' Target

AT&T Falls Short on Cash Flow, Beats Subscribers’ Target

AT&T released its earnings report for the first quarter on Thursday, reporting a lower-than-expected cash flow of $1 billion for the period. Wall Street analysts expected a free cash flow of $3.02 billion.

While the company stated that it remains on track to achieving its full-year cash flow targets, this proves a challenging milestone for the Dallas, Texas-based telecommunications company to achieve, given that it has only 6% of the way to achieving this goal.

Shares in the company fell by about 2.5% to $19.20 in premarket trading on Thursday. Despite this fall, the company’s stocks remain 7% higher for the year to date.

Despite missing out on its cash flow target, AT&T succeeded in adding more net subscribers during the first quarter. 424,000 regular monthly phone subscribers were added, exceeding the estimated 400,556 that analysts predicted.

23,000 broadband customers were lost, however, 272,000 new fiber subscribers were gained in the period. AT&T confirmed that its fiber services remain on track to reach 30 million homes and businesses by 2025.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...