Latest news with #LumenTechnologiesInc.
Mint
23-07-2025
- Business
- Mint
AT&T stock slumps on annual profit forecast
Shares of AT&T Inc. slumped on Wednesday in pre-market session after the company's profit forecast for the year 2025 fell short of Wall Street estimates. The telecom company said it expects adjusted earnings of $1.97 to $2.07 a share, lower from the Street's forecast of $2.09 on average. AT&T stock fell 3.7% in pre-market trading on Wednesday after closing at $27.42 on Tuesday. The stock is up 20% so far this year through Tuesday's close. AT&T said its earnings for the second quarter ended June 30, 2025 rose to 54 cents a share. Its revenue surged 3.4% to $30.8 billion. It reported free cash flow of $4.4 billion. The company added fewer fiber customers than expected in the second quarter, stoking concerns about intense competition and eclipsing a surge in wireless subscribers fueled by its discounted bundles. Texas-based AT&T added 243,000 fiber customers in the June quarter, as compared to 261,000 customers during the January-March period. Its bundled plans helped the company add 401,000 net monthly bill-paying wireless phone subscribers in the second quarter. The company said it is spending heavily to advance its fiber optic network across the United States and will use cash savings from President Donald Trump's tax and spending bill to accelerate those plans. AT&T further said it expects to realize $6.5 billion to $8 billion of cash tax savings through 2027 as a result of the bill. It plans to invest $3.5 billion of these savings into building out its fiber internet network to a pace of 4 million locations per year by the end of 2026. To expand its wired footprint, the telco is in the process of acquiring Lumen Technologies Inc.'s consumer fiber unit.
Mint
30-06-2025
- Business
- Mint
Trump Blasts AT&T for Poor Network Performance During Call
US President Donald Trump blasted AT&T Inc. for poor network performance during a conference call he was holding with faith leaders on Monday. 'I apologize for the long wait on the Faith Leaders Conference Call,' Trump wrote on Truth Social. 'AT&T ought to get its act together.' He said he may have to reschedule the call but would 'use another carrier the next time.' Trump also called for the head of AT&T, 'whoever that may be' to personally get involved, referring to Chief Executive Officer John Stankey. The president said he had 'tens of thousands of people on the line,' and that AT&T is 'totally unable to make their equipment work properly.' AT&T, one of the biggest telecommunications companies in the US, said in a social media post that it has reached out to the White House and is 'working to quickly understand and assess the situation.' AT&T and Lumen Technologies Inc. are the two vendors that have contracts with the White House to provide teleconferencing and other telecommunications services. Since the start of the contract in fiscal 2020, AT&T has brought in $1.7 million in obligations from the White House, according to data compiled by Bloomberg Government. Earlier this year, AT&T said it would begin crediting customers for internet outages and long wait times in an effort to appease users after a string of disruptions last year. For example, in February 2024 AT&T reported an outage that knocked out coverage for hundreds of thousands of people and prompted an investigation by the FBI. The company later offered a $5 credit to affected customers. This article was generated from an automated news agency feed without modifications to text.
