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AT&T Details $430M Virus Pandemic Earnings Hit for First Quarter, Loses 1.04M TV Subs

virus pandemic crisis Coronavirus
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hollywoodreporter.com:

Telecom giant AT&T on Wednesday reported its first-quarter financials, the first set of results affected by a few weeks' worth of the coronavirus pandemic.

It detailed a $433 million hit to quarterly earnings before interest, taxes, depreciation and amortization and a roughly $600 million revenue impact, but added: "The economic effects of the pandemic and resulting societal changes are currently not predictable." "In the first quarter of 2020, we recognized approximately $430 million, or $0.05 per share, of incremental costs associated with bad debt reserves, voluntary corporate actions taken primarily to protect and compensate front-line employees and contractors, and WarnerMedia production shutdown costs," the company explained.

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United States
United States
Cases: 46 252 513
Deaths: 750 423
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Cases: 34 321 025
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Recovered: 0
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Deaths: 608 235
Recovered: 0
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Deaths: 237 619
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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