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Communications Services Down As AT&T Weighs -- Communications Services Roundup

01/26/2022 | 05:50pm EDT

Communications services companies fell on a volatile session after a mixed earnings report from one giant.

AT&T shares plunged after the company swung to a fourth-quarter profit, lifted mainly by wireless subscriber growth.

Investors have concerns about the growth outlook given the planned spinoff of the WarnerMedia unit, and AT&T's chief financial officer confirmed that subscriber growth isn't expected to continue at the 2021 pace.

Attackers have commandeered thousands of TracFone customers' phone numbers in recent weeks, forcing new owner Verizon Communications to improve safeguards less than two months after it took over the prepaid wireless provider.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-26-22 1749ET

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