• AT&T Inc, the telecom company, reported weaker-than-expected quarterly results. 

    Revenue in the first quarter increased 1.4% to $30.1 billion and net income attributable to common stockholders declined to $4.2 billion from $4.8 billion and earnings per share fell to 57 cents from 65 cents a year ago. 

    Mobile telephony segment added 572,000 net subscribers in the quarter, slower than at least 650,000 postpaid subscribers in every quarter in 2022. 

     Fiber subscribers increased 272,000 to 7.8 million in the quarter.  

    The stock declined 10% to $17.70 after the free cash flow at the end of the quarter fell to $1 billion from $2.8 billion a year ago but the telecom company retained its full-year free cash flow estimate of $16 billion. 
    Apr 20, 2023

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