AT&T CFO Points To More Frugal Future -- Market Talk
AT&T CFO Pascal Desroches says the company's strategy is "very boring but very important" with a focus on cutting costs, paying an attractive dividend and strengthening its balance sheet. AT&T's previous acquisition binge left it constrained, he said, and deleveraging must continue. He expects growth to "normalize" after two and half years of surprising expansion, and industry competition "is going to be done so in a very disciplined way." He highlighted AT&T's reduced promotional activity around Black Friday in the fall compared to wireless rivals. "That is the way we are going to run this company going forward," Desroches said.