From Dallas Business Journal:
AT&T is making its way through COVID-19 – and doesn’t have a firm grip yet on its future.
“We continue to work through it, but visibility is not yet clear,” CFO John Stephens said during an online investor conference hosted by Credit Suisse on Wednesday. “So, we’ll continue to evaluate and move forward as we learn more.”
The Dallas telecommunications and media company has seen its diverse business lineup come under pressure in recent months amid a shift to shelter-at-home policies and a general economic crunch. During the first quarter, AT&T said about $600 million of a sales decline was tied to the pandemic.
Stephens noted the company took down guidance when it unveiled results in April, given the lack of visibility. He noted wireless, a key business, has seen some pressure as folks travel less amid COVID-19, meaning less for roaming revenue.