This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AT&T Beats Estimates on Smartphone Sales Boost

NEW YORK (TheStreet) -- AT&T (T - Get Report) third-quarter earnings were aided by the strength in smartphone sales, as the company managed to beat Wall Street earnings estimates.

The Dallas-based AT&T earned 66 cents per share on $32.16 billion in revenue, excluding gains from spectrum sales. Analysts surveyed by Thomson Reuters were expecting 65 cents per share on $32.19 billion in sales.

The company noted that wireless revenues were up 5.1% year-over-year, to $17.5 billion. Wireless service revenues accounted for $15.5 billion, with wireless data revenue rising 17.6% year-over-year to $5.5 billion.

The company added nearly 1 million net subscribers added, with 363,000 wireless postpaid net adds during the quarter. There were 1.2 million new smartphone subscribers added, with smartphones accounting for 89% of postpaid phone sales.

"We're setting the standard for 4G LTE speeds and network reliability. Our fiber and U-verse expansion projects are ahead of schedule bringing high-speed broadband to millions more customers," said Randall Stephenson, AT&T chairman and CEO. ¿With these initiatives, we¿re seeing excellent growth across our major platforms, mobility, U-verse and strategic business services."

Shares of AT&T closed the session higher, gaining 0.11%to finish at $35.27.

--Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
T $32.51 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs