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.Comment on this story
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.