AT&T stock moves lower following revenue miss amid subscriber growth

The Yahoo Finance Live team discusses a decline in AT&T stock following a Q1 revenue miss in its recent earnings release.

Video transcript

DAVE BRIGGS: All right, let's take a look at some of the movers on the day. AT&T shares closing down more than 10% after the company reported lower-than-expected revenue and free cash flow in its first quarter.

The telecom giant's results also taking down rivals Verizon and T-Mobile. You can't help but wonder what that says, Seana, about macro concerns.

SEANA SMITH: Yeah, exactly, and I think this really points to the fact that maybe we are starting to see some cracks when you look at the economy. Some comments here from CEO John Stankey just really saying that he is starting to see some people here, some of their consumers pushing out those upgrades that we know is so critical here to that company. But again, one of the reasons why we're seeing the stock off so substantially today.

DAVE BRIGGS: Just want to add that Stankey would not address the rumors that DirecTV and Dish will merge, but it does appear inevitable. It does look like Dish is a troubled asset.