AT&T cuts cash flow view on higher spending and overdue bills ...Qatar

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AT&T cuts cash flow view on higher spending and overdue bills
AT&T Inc said that more of its customers are starting to put off paying their phone bills, leading the wireless carrier to cut its forecast for free cash flow this year by $2bn. The emerging economic strain on consumers added to pressure the company is facing from deep discounts on new phones and higher spending on network equipment. AT&T shares slipped as much as 5.5% in early trading in New York. The stock had gained 10% this year through Wednesday’s close, outpacing phone company peer Verizon Communications Inc., which is down 5.6%, but lagging the 19% gain by T-Mobile US Inc. AT&T said yesterday that it now expects 2022 free cash flow of $14bn. About $1bn of the difference was tied to t

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