AT&T Falls Most in 20 Years After Overdue Bills Hit Cash Flow

AT&T Inc. fell the most in 20 years after saying some customers are starting to put off paying their phone bills, which contributed to the wireless carrier cutting its forecast for free cash flow this year by $2 billion.

The emerging economic strain on consumers is adding to pressure the company had already been facing from deep discounts on new phones and higher spending on network equipment.

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