AT&T (NYSE:T) experienced a slight decline of more than 1% intra-day today following statements made by the company’s CFO, Pascal Descroches, suggesting that AT&T is encountering business trends that are weaker than anticipated, as reported by Bloomberg.
At the Bank of America C-Suite Technology, Media, and Telecommunications Conference, the CFO disclosed that the company’s second-quarter addition of new phone customers was around 300,000, which fell considerably short of the anticipated 476,000 additions.
Addressing the rumors surrounding Amazon’s potential entry into the mobile phone services market for its Prime members, the CFO commented that the wireless industry lacks incentives to collaborate with the e-commerce giant.