AT&T shares fall 10% after company posts softer than expected revenue, cash flow

AT&T shares are down after the company’s revenue came up short of Wall Street’s expectations.
The carrier’s quarterly revenue rose to $30.14 billion, falling just shy of the $30.27 billion expected by analysts.

On its earnings call Thursday, AT&T executives said the decline was “consistent with [its] expectations” due to the timing of capital investments and device payments. Executives said the company “remains confident” it will meet its forecast to generate around $16 billion in free cash flow this year.