AT&T Loses Contract Phone Subscribers in 1Q
AT&T Inc. says that it added a net 296,000 devices to its contract-based plans in the first quarter, but the gain was due entirely to tablets, which carry lower monthly fees.
Excluding tablets, the carrier lost a net 69,000 devices from its contract-based plans, the first such loss.
The figures were announced Tuesday as the company reported a 3-percent gain in net income to $3.7 billion, or 67 cents per share.
Excluding the sale of an advertising business, adjusted earnings came to 64 cents per share, matching the expectation of analysts polled by FactSet.
Revenue fell nearly 2 percent to $31.36 billion, below the $31.74 billion that analysts were looking for.
Shares of the Dallas company are off 2 percent to $38.20 in after-hours trading.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.