AT&T to invest to bolster enterprise services

Feb 22, 2016

People walk past the AT&T store in New York's Times Square, June 17, 2015.

AT&T Inc will invest about $10 billion in its global business solutions division, as it seeks to boost the unit that offers services such as wireless connectivity, cloud storage and security to companies, the wireless provider said on Sunday.

Last month, AT&T said it expects its overall capital expenditure in 2016 to total $22 billion. For the quarter ended Dec. 31, the company said revenue in its business solutions unit fell 2.7 percent from a year ago to $18.2 billion, driven in part by lower equipment revenue and pressure from foreign exchange rates.

(Reporting by Malathi Nayak; Editing by Matthew Lewis)

Source: REUTERS