Deals
AT&T Shares Sink to Six-Year Low on Flagging Wireless Growth
- Domestic wireless unit has fewer new customers than expected
- Shares tumble to their lowest in more than six years
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AT&T Inc., fresh off its $85 billion purchase of Time Warner Inc., wants to be known as a modern media company. Investors still need convincing.
The stock fell as much as 4 percent Wednesday to the lowest in more than six years after the phone giant added fewer wireless customers than expected last quarter, a sign its main moneymaker remains sluggish. The miss underscored the importance of integrating Time Warner services like HBO and CNN into AT&T’s mobile and pay-TV strategy.