AT&T Profit Beats Estimates on Solid Wireless Growth
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AT&T Inc., the largest U.S. phone company, posted first-quarter earnings that beat analysts’ estimates on lower smartphone upgrade costs and an increase in wireless data sales related to Apple Inc.’s iPad.
Earnings climbed to 60 cents a share from 57 cents a year earlier, Dallas-based AT&T said today in a statement. Analysts projected 57 cents, the average of estimates compiled by Bloomberg. Sales rose 1.8 percent to $31.8 billion, in line with the average analyst estimate.