AT&T Falls as Competition, Storms Lead to Video Subscriber Loss
- Total TV customers decline by 90,000 as Harvey, Irma take toll
- Sign-ups for new online service couldn’t make up for losses
Why AT&T Shares Are on Pace for Worst Day Since 2013
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AT&T Inc. fell the most in almost a year after saying it lost 90,000 video subscribers in the third quarter because of heavy competition and weather-related disruptions.
AT&T provides phone, TV and internet service in the Houston area, which was ravaged by Hurricane Harvey in August, and in parts of Florida, hit by Hurricane Irma not long after. Higher credit standards contributed to the subscriber loss, the company said Wednesday in a filing. Without the 300,000 customers who signed up for AT&T’s new online service, the subscriber loss would have been 390,000.