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AT&T commits to cutting $20 bn in debt in 2019, to review non-core assets

AT&T expects 2019 adjusted earnings per share to grow in low single digits, while analysts are expecting a 1.7% rise

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AT&T Inc said on Thursday it has committed to cutting its heavy debt load next year through a variety of measures, including a review of all of its non-core assets such as its stake in streaming video company Hulu for possible sale. The second-largest US wireless carrier by subscribers said at an analyst meeting in New York that it will pay down $18 billion to $20 billion of its debt by the end of 2019, and will generate up to $8 billion in cash in part through the sale of some assets. Shares of AT&T, which rose 1 percent in after hours trade during the presentation, are down 21 ...

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First Published: Fri, November 30 2018. 06:38 IST