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AT&T Shares Jump Most in 8 Years on Surprise Mobile Gains

  • Tablet users more than offset loss of phone customers
  • TV defections continue as cord-cutters opt for streaming video
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How AT&T Could Secure Approval of Time Warner Deal

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AT&T Inc. shares surged the most in more than eight years after the telecommunications giant posted a surprise wireless subscriber gain in the second quarter, showing it can fend for itself in a cutthroat price war.

Second-quarter earnings topped estimates, and wireless customers rose by 127,000, compared with analysts’ average projection for a loss of 22,713. An offer for unlimited wireless data, bundled with discounted streaming-TV service, helping AT&T bide its time while awaiting regulatory approval to transform into a media powerhouse through the $85.4 billion purchase of Time Warner Inc.