AT&T (NYSE:T) shares fell over 2% in pre-open Tuesday after the company’s CFO Pascal Desroches hinted that the company is witnessing softer-than-expected business trends, according to Bloomberg.
Speaking at the Bank of America C-Suite Technology, Media, and Telecommunications Conference, CFO said AT&T added about 300,000 new phone customers in the second quarter, significantly below the expected 476,000 additions.
Commenting on the rumors that Amazon (NASDAQ:AMZN) is preparing to offer mobile phone services to its Prime members, CFO said that the wireless industry “has no incentives to work” with the e-commerce giant.
Verizon (NYSE:VZ) and T-Mobile US (NASDAQ:TMUS) shares are also moving lower in pre-open.