FILE PHOTO: The AT&T logo is seen in a store window in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Brendan McDermid/File Photo
(Reuters) -AT&T Inc said some subscribers are taking more time to clear their bills, which partly led the U.S. wireless carrier to cut its annual free cash flow forecast by about $2 billion, sending its shares down as much as 11% on Thursday.
The conservative forecast comes as AT&T joins other companies to prepare for a potential slowdown in consumer spending in the second half of the year against the backdrop of four-decades high inflation in the United States.
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