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AT&T posts higher 3Q profit as revenue grows

By Barbara Ortutay

Associated Press

Published: Wednesday, Oct. 23 2013 3:38 p.m. MDT

This May 6, 2012, file photo, shows an AT&T sign at a store in New York.

CX Matiash, File, Associated Press

Enlarge photo»

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.

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