CX Matiash, File, Associated Press
NEW YORK — AT&T's third-quarter profit and revenue increased as the nation's largest telecommunications company added more smartphone and broadband subscribers.
AT&T Inc. said Wednesday that it earned $3.81 billion, or 72 cents per share, in the July-September quarter. That's up 5 percent from $3.64 billion, or 63 cents per share, in the same period a year ago.
Adjusted earnings were 66 cents per share in the latest quarter.
AT&T says its revenue grew 2 percent to $32.16 billion from $31.46 billion.
Analysts, on average, had expected earnings of 65 cents per share on revenue of $32.18 billion according to FactSet.
Wireless revenue grew 5 percent to $17.5 billion. AT&T said it added nearly 1 million net wireless subscribers in the third quarter. It added 566,000 wireless devices to its contract-based plans, which are the most lucrative. Of these 178,000 were smartphones and the rest tablets, which carry lower monthly fees than phones.
Shares of the Dallas-based company slid 3 cents to $35.25 in after-hours trading. The stock had closed up 5 cents at $35.28.
- Poll: Two-thirds of US would struggle to...
- Stocks move higher, led by technology and banks
- US home sales growth driven mostly by Midwest
- Diego Rivera painting sells privately for...
- G-7 finance leaders seek to reassure on...
- GE announces deals worth over $1.4 billion...
- New Mexico is first to sue EPA, mine owners...
- Office of Economic Development names...
- Religious freedom is good for business,... 29
- If Hillary becomes president, will she... 17
- Can Donald Trump fix the U.S. economy... 14
- Poll: Two-thirds of US would struggle... 11
- Utah aglow with new solar developments,... 6
- New Mexico is first to sue EPA, mine... 4
- GE announces deals worth over $1.4... 1
- How to manage the home stretch to... 1