AT&T Chief Tanks Stock: The Economy Sucks
The economy stinks and it's not getting better soon, AT&T chief Randall Stephenson told Citigroup analyst Michael Rollins during a sit-down at the bank's annual media and telecom conference.
Specifically, Stephenson said the company has had to cut off residential telephone and broadband customers for not paying their bills. "We're really experiencing softness on the consumer side of the house from the economy."
AT&T's wireless business seems safe for now: as the economy softens, Stephenson said, wireless service is the last thing people are getting rid of.
Meanwhile, AT&T's stock dove 4.5% during Stephenson's 45-minute chat. See chart.
More in our live-blog transcript of Stephenson's remarks.
Specifically, Stephenson said the company has had to cut off residential telephone and broadband customers for not paying their bills. "We're really experiencing softness on the consumer side of the house from the economy."
AT&T's wireless business seems safe for now: as the economy softens, Stephenson said, wireless service is the last thing people are getting rid of.
Meanwhile, AT&T's stock dove 4.5% during Stephenson's 45-minute chat. See chart.
More in our live-blog transcript of Stephenson's remarks.
I have not been able to even get an ebill from them even though is have signed up multiple times. Their complete lack of customer support and the recent problems with their DSL service is just another reason for me just to get cable and be through with it.
But why not blame the economy while you can...