AT&T earnings beat by a penny
AT&T on Wednesday posted third-quarter revenue that was slightly below expectations but net income beat by a penny as the company worked to control costs.
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The No. 2 U.S. mobile service added 363,000 wireless postpaid subscribers during the quarter, slightly ahead of expectations for just over 344,000 from eight analysts contacted by Reuters.
Net income rose 5 percent to $3.91 billion, or 72 cent a share, from $3.7 billion, or 63 cents a share, in the year-earlier period.
Excluding items, earnings climbed to 66 cents a share from 62 cents a year ago.
Revenue increased 2.2 percent to $32.16 billion from $31.46 billion.
Analysts had expected AT&T to report earnings excluding items of 65 cents a share on $32.19 billion in revenue, according to a consensus estimate from Thomson Reuters.
—Reuters contributed to this report.