AT&T stock drops as Q1 wireless service revenue falls short of some analyst estimates

What happened: AT&T (T) banal sank much than 3% connected Wednesday.

What’s down the banal move: The wireless supplier posted better-than-expected gross and nett successful the archetypal 4th arsenic it leaned into its strategy of selling customers Internet and telephone work bundled together. But wireless work revenue, which grew little than 2% twelvemonth connected twelvemonth to astir $16.94 billion, came successful airy of expectations. JPMorgan analysts said they expected $17.02 billion.

What other you request to know: AT&T has been expanding its fibre concern footprint with the acquisition of Lumen Technologies past year.

Still the banal has lone risen astir 2% year-to-date arsenic the institution has had to connection beardown perks to summation customers successful caller months amid a hotly competitory mobile market.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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