AT&T earnings unchanged, but revenue grows in 1Q
AT&T says its first quarter earnings were unchanged from the first three months of last year, but revenue grew as the wireless business added more than 1 million subscribers.
First-quarter net income was $3.7 billion, or 70 cents per share, compared with $3.7 billion, or 67 cents, a year earlier, when AT&T had more shares outstanding. Adjusting for one-time items, income was 71 cents per share, compared with 64 cents in the same period last year. Analysts expected 70 cents.
Revenue grew 4 percent to $32.5 billion, better than the $32.4 billion analysts expected, according to FactSet.
AT&T Inc. said Tuesday that it added 1,062,000 wireless subscribers in the quarter. That includes 625,000 smartphones and tablets in "post-paid" plans. These are the high-value customers on contracts or long-term installment plans.
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