Option Millionaires

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$T,...AT&T cuts revenue outlook; wireless growth still under pressure

AT&T (NYSE:T) now expects full-year revenue to grow 3%-4% Y/Y, down from prior guidance of 5% but in-line with a 3.4% consensus.

Wireless service revenue was down 0.2% Y/Y in Q3, an improvement from Q2's 1.4% drop but below Verizon's 4.8% growth. With equipment sales rising 44.3% thanks to strong Next smartphone upgrade plan adoption, wireless op. margin fell 180 bps to 24.6%.