AT&T Tops Profit Estimates After Paying Fewer Subsidies
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AT&T Inc., the largest U.S. phone company, reported sluggish second-quarter sales after signing up fewer wireless customers, even as the slowdown boosted profit by lowering smartphone subsidy costs.
Net income attributable to AT&T climbed 8.7 percent to $3.9 billion, or 66 cents a share, from $3.59 billion, or 60 cents, a year earlier, Dallas-based AT&T said today in a statement. Analysts projected 63 cents a share on average, according to data compiled by Bloomberg. Sales rose less than 1 percent to $31.6 billion, compared with an estimate of $31.7 billion.