AT&T's Second Quarter Was a Bust
Like most companies, AT&T (NYSE: T) was adversely affected by the COVID-19 pandemic during the second quarter. Shutdowns intended to curb the spread of the disease not only made it difficult to do business with consumers; procuring the supplies, equipment, and staff needed to deliver business-minded services was tough too. Investors more or less knew this would be the case.
AT&T's second-quarter numbers, however, were even weak in areas where they should have been decent. That's television, internet, and consumer wireless. With millions of people effectively trapped at home, video entertainment has never been more marketable. Likewise, with millions of employees now working at home, reliable broadband service has never been more crucial. And cellphones? There's nothing about the coronavirus outbreak that should crimp usage of them.
Perhaps the company's struggles go beyond the COVID-19 headwind.
Source Fool.com
