It has certainly been a wild few days for investors in AT&T (NYSE:T). Last week, T stock initially sank on news of a major network outage. Shares then recovered on Friday only to be down again by about 1% today. This move comes as news surfaces about an AT&T outage credit that will come into effect for individuals impacted by the lapse in service.
AT&T will issue a $5 credit to the statements of the 70,000 or so customers who reportedly saw data connection issues while roaming outside of WiFi areas late last week. The company is hoping that essentially paying a full day’s worth of service to impacted customers will more than compensate individuals for the outage on Thursday, which spanned approximately 10 hours.
Let’s dive into what to make of this announcement — and what individuals need to know about receiving and claiming this credit.
How to Receive AT&T Outage Credit
AT&T CEO John Stankey seems to be attempting to assuage customer concerns around network stability, having issued a letter to employees that has been shared with the media. Stankey noted that outages “sometimes have outsized impacts on some subscribers that may be greater than the face value of the credit.” The CEO continued, “For that reason, I believe that crediting those customers for essentially a full day of service is the right thing to do.”
Most consumers will undoubtedly agree — and gratefully accept the $5 credit. For many, this process will be relatively simple, with a statement credit showing up on their accounts in short order.
That said, for certain customers, claiming the credit may involve a few steps. Prepaid customers will reportedly have “options available” if they were affected. Enterprise customers and those working with intermediaries may also be eligible to receive the credit, although it’s unclear at this time how the credit will be made available to such customers.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
