(CercleFinance.com) – AT&T said on Tuesday that it expected a sharp slowdown in the recruitment of new subscribers in the second quarter, which weighed on its stock price on Tuesday on Wall Street.
During a conference organized by Bank of America, Pascal Desroches, the operator’s financial director, indicated that he expected just over 300,000 net new mobile subscribers with a monthly plan during the quarter that is ending.
By way of comparison, the group had succeeded in attracting some 400,000 net new subscribers in the first three months of the year.
Pascal Desroches attributed this deceleration to the trend of ‘normalization’ of the sector’s growth, the launch of new offers from the competition and the decision of the management not to hunt new subscribers at all costs on the basis of terms. financial which would be unfavourable.
For the rest, Desroches confirmed the forecast of a free cash flow (‘free cash flow’) of at least 16 billion dollars this year, including a target of 3.5 to four billion for the second quarter.
Adjusted current operating income (EBITDA) should increase by more than 3% in 2023.
Following these declarations, the action AT&T yielded 1.1% Tuesday in the first exchanges on the New York Stock Exchange.
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