AT&T, Verizon, Frontier, and Lumen all get hammered after lead-cable reports.

AT&T’s stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

  • lortikins@lemmy.worldEnglish
    33·
    1 year ago

    However will they afford this?

    New Street Research estimated that remediation could cost the telecom industry $60 billion

    At&T alone had 120 billion in revenue in 2022 which was a bad year for them but God forbid we penalize a corporation, they’re job CREATORS don’t you know?