AT&T Lowers Quarterly Financial Targets From Hurricanes, Earthquakes

 By Bowdeya Tweh 

AT&T Inc. said Wednesday that recent hurricanes to hit the U.S. and Caribbean and earthquakes in Mexico would reduce third-quarter earnings per share by 2 cents and revenue by nearly $90 million.

Analysts surveyed by Thomson Reuters had expected AT&T to report adjusted earnings of 76 cents a share in the third quarter.

The telecommunications giant also said that the severe weather and geological events would have an affect on its fourth-quarter results, but didn't disclose specific financial impacts.

"We expect further reductions in the fourth quarter as we continue to assess damage to our network and fully restore service," the company said.

Shares fell 0.3% in after-hours trading to $38.09.

The company confirmed prior full-year targets of mid-single digit adjusted earnings growth, adjusted consolidated operating margin expansion, roughly $22 billion in capital expenditures, and free cash flow in the low $18 billion range.

 Write to Bowdeya Tweh at [e-mail] 

(END) Dow Jones Newswires

October 11, 2017 18:23 ET (22:23 GMT)

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