AT&T Affirms Guidance, Sees Progress on Debt Reduction
May 14 2019 - 07:24PM
Dow Jones News
By Josh Beckerman
AT&T Inc. (T) reaffirmed its 2019 guidance and expects
significant cash flow this year and next will help it reduce
debt.
By year-end, it expects to have repaid 75% of the $40 billion it
borrowed to buy Time Warner Inc. last year.
The company said it has already reached $5 billion of agreements
toward its 2019 full-year asset monetization goal of $6 billion to
$8 billion.
AT&T expects low single-digit adjusted earnings-per-share
growth and free cash flow of about $26 billion for the year.
As AT&T's WarnerMedia develops its own streaming service,
the treatment of prominent Warner shows like "Friends," "The Big
Bang Theory" and "Seinfeld" has received attention.
Netflix Inc. (NFLX) and WarnerMedia reached an agreement in late
2018 that kept "Friends" on Netflix through 2019.
AT&T said Tuesday that WarnerMedia "plans to take back some
owned-content previously licensed to others" and instead place it
on the streaming service, which is slated for a beta launch in the
fourth quarter.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 14, 2019 19:09 ET (23:09 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
AT&T (NYSE:T)
Historical Stock Chart
From Feb 2024 to Mar 2024
AT&T (NYSE:T)
Historical Stock Chart
From Mar 2023 to Mar 2024