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UPDATE 1-AT&T posts revenue just below Wall Street expectations

Wednesday, 23 Oct 2013 | 4:28 PM ET

NEW YORK, Oct 23 (Reuters) - AT&T Inc posted third quarter revenue on Wednesday that was slightly below Wall Street estimates, but net income was a penny ahead as the company worked to control costs.

The No. 2 U.S. mobile service provider had a third-quarter profit of $3.81 billion, or 72 cents, per share compared with $3.63 billion, or 63 cents, per share in the year-ago quarter.

Excluding unusual items, the company earned 66 cents per share in the third quarter compared with analyst estimates of 65 cents, according to Thomson Reuters I/B/E/S.

Revenue rose to $32.16 billion from $31.46 billion and compared with Wall Street expectations for $32.19 billion, according to Thomson Reuters I/B/E/S.

AT&T reported 363,000 net postpaid subscriber additions in the quarter, slightly ahead of Wall Street expectations for just over 344,000 from eight analysts contacted by Reuters.

But growth was well behind bigger rival Verizon Wireless , which reported 927,000 new customers in the quarter on Oct 17.

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