AT&T Lowers Quarterly Financial Targets From Hurricanes, Earthquakes
October 11 2017 - 06:38PM
Dow Jones News
By Bowdeya Tweh
AT&T Inc. said Wednesday that recent hurricanes to hit the
U.S. and Caribbean and earthquakes in Mexico would reduce
third-quarter earnings per share by 2 cents and revenue by nearly
$90 million.
Analysts surveyed by Thomson Reuters had expected AT&T to
report adjusted earnings of 76 cents a share in the third
quarter.
The telecommunications giant also said that the severe weather
and geological events would have an affect on its fourth-quarter
results, but didn't disclose specific financial impacts.
"We expect further reductions in the fourth quarter as we
continue to assess damage to our network and fully restore
service," the company said.
Shares fell 0.3% in after-hours trading to $38.09.
The company confirmed prior full-year targets of mid-single
digit adjusted earnings growth, adjusted consolidated operating
margin expansion, roughly $22 billion in capital expenditures, and
free cash flow in the low $18 billion range.
Write to Bowdeya Tweh at bowdeya.tweh@wsj.com
(END) Dow Jones Newswires
October 11, 2017 18:23 ET (22:23 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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