AT&T lowers Q3 Guidance due to Natural Disasters

AT&T lowers Q3 Guidance due to Natural Disasters

The operator anticipates impacts from the several hurricanes during the period, as well as earthquakes in Mexico, to decrease third quarter revenue by $90 million.

The No. 2 USA wireless carrier said third-quarter consolidated revenue was hurt by about $90 million and pre-tax earnings by about $210 million, or 2 cents per share.

In the three months to the end of September the group saw its DIRECTV NOW service add around 300,000 (net) customers, but total USA video subscribers were down about 90,000.

AT&T has filed an financial update for its third quarter with the SEC, saying it expects a decline in video subscribers and subsequent effect on Entertainment Group revenues and margins.


"We expect further reductions in the fourth quarter as we continue to assess damage to our network and fully restore service". AT&T, which is the number two USA wireless carrier and also owner of DirecTV, said in the filing that it had lost 90,000 us video subscribers, now at 300,000 subscribers. The company estimates capital expenditures in the $22 billion range, and free cash flow at the low end of the $18 billion range.

The telecom giant, which is about to finalize its $85 billion acquisition of, also blamed the subscriber losses on the natural disasters, but said some of it was competition as skinny bundles and new pay-TV schemes proliferate.

The mobile network operator continued to expand its post-paid smartphone base, despite seeing nearly 900,000 fewer handset equipment upgrades than in the year-ago third quarter. This trend will however not affect gross adds and AT&T continues to see low postpaid phone churn levels.

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