AT&T Misses On Top & Bottom Lines in Q3 Despite Lower Churn

AT&T posted third quarter earnings of $0.63 a share on revenue of $33 billion. Wall Street analysts were looking for $0.64 on sales of $33.24 billion. Last year, the telecom giant earned $0.66 a share on revenue of $32.16 billion. As for details, AT&T said its wireless revenues were up 4.9% versus the year-ago quarter and it was the company’s best-ever third-quarter in terms of postpaid churn at 0.99 percent. Furthermore, AT&T said it added nearly 1.2 million new postpaid smartphones in the quarter with smartphones accounting for 91 percent of postpaid phone sales. TheStreet's Gregg Greenberg has details from New York.