AT&T subscriber growth beats estimates

AT&T subscriber growth beats estimates
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Mike Blake(Reuters)
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(Reuters) - AT&T Inc <T.N> added a net 46,000 postpaid mobile phone subscribers in the second quarter, beating Wall Street estimates as the No. 2 U.S. wireless carrier ground out some growth in a saturated market. Analysts on average were expecting net adds of 14,000, according to financial and data analytics firm FactSet.

The second-largest U.S. carrier by subscribers won court approval last month to close its $85 billion (64.72 billion pounds)acquisition of media company Time Warner Inc and began bundling the content it gains from the deal with new wireless plans in an effort to drive subscriber growth.

A federal appeals court last week approved the U.S. Justice Department's request for an expedited schedule to appeal the Time Warner ruling on antitrust concerns.

Total operating revenue fell about 2 percent to $38.99 billion, missing analysts' average estimate of $39.39 billion, according to Thomson Reuters I/B/E/S.

Shares of the company were down 2 percent after the bell on Tuesday.

Net income attributable to the company rose to $5.1 billion, or 81 cents per share, in the quarter ended June 30 from $3.92 billion, or 63 cents per share, a year earlier.

On an adjusted basis, the company earned 91 cents per share. Analysts had expected adjusted earnings per share of 85 cents.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva)

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