What's Going On With AT&T Stock Today
Portfolio Pulse from Anusuya Lahiri
AT&T shares traded lower as CFO Pascal Desroches updated shareholders at the 2023 Bank of America C-Suite Technology, Media, and Telecommunications Conference. The company expects Q2 free cash flow between $3.5 billion - $4 billion and remains on track for FY23 free cash flow of $16 billion. Q2 postpaid phone net additions were slightly above 300,000, lagging Wall Street consensus of 476,000.
June 20, 2023 | 4:40 pm
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AT&T shares traded lower after CFO's update on Q2 free cash flow and postpaid phone net additions, which lagged Wall Street consensus.
AT&T's Q2 free cash flow and postpaid phone net additions were lower than expected, which could negatively impact investor sentiment and lead to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100