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AT&T Drops on Concerns About Slowdown for Mobile Business

  • Phone customer growth seen ‘normalizing’ after boom last year
  • Company moves up date for WarnerMedia deal, debates spinoff
AT&T Stores Ahead Of Earnings Figures
Photographer: David Paul Morris/Bloomberg
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AT&T Inc. fell the most in almost two years after telling investors it doesn’t expect another blowout performance for new mobile phone sign-ups.

The third-largest U.S. wireless carrier said on an earnings call Wednesday that it sees the mobile business “normalizing” lower in 2022. The company added 3.2 million mobile phone subscribers last year, its fastest growth in a decade, thanks in part to iPhone giveaways.