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AT&T : says hurricanes, earthquakes hurt third-quarter results

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10/12/2017 | 12:42am CEST
File photo of the signage for an AT&T store is seen in New York

(Reuters) - AT&T Inc said on Wednesday that its third-quarter results took a hit from a string of hurricanes that tore into parts of the United states and earthquakes in Mexico.

The No. 2 U.S. wireless carrier said third-quarter consolidated revenue was hurt by about $90 million and pre-tax earnings by about $210 million (158.84 million pounds), or 2 cents per share. (http://bit.ly/2ydgmfm)

AT&T also said it lost about 90,000 U.S. video subscribers in the quarter due to intense competition in traditional pay TV markets as well as the impact of the recent hurricanes.

"Several devastating hurricanes, as well as earthquakes in Mexico, significantly impacted certain regions of our service area during the third quarter," the company said.

"We expect further reductions in the fourth quarter as we continue to assess damage to our network and fully restore service," it added.

However, the company reiterated its full-year forecast of mid-single digit growth in adjusted earnings and capital expenditures in the $22 billion range.

The company's shares fell marginally in extended trading on Wednesday.

(Reporting by Laharee Chatterjee; Editing by Shounak Dasgupta)

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Financials ($)
Sales 2018 172 B
EBIT 2018 33 633 M
Net income 2018 19 121 M
Debt 2018 171 B
Yield 2018 6,32%
P/E ratio 2018 11,09
P/E ratio 2019 10,63
EV / Sales 2018 2,34x
EV / Sales 2019 2,12x
Capitalization 233 B
Chart AT&T
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AT&T Technical Analysis Chart | T | US00206R1023 | 4-Traders
Technical analysis trends AT&T
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 36,9 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Randall L. Stephenson Chairman, President & Chief Executive Officer
John J. Stephens CFO, Principal Accounting Officer & Senior EVP
Joyce M. Roché Independent Director
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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