AT&T revenue declines but subscribers beat analyst estimates
NEW YORK, April 23
NEW YORK, April 23 (Reuters) - AT&T Inc posted a decline in first-quarter revenue but added more wireless subscribers than expected, driven by sales of tablet computers with cellular connections.
The No. 2 U.S. mobile service added 296,000 subscribers in the quarter compared with Wall Street expectations for just over 195,000, according to six analysts contacted by Reuters.
Its profit rose to $3.7 billion, or 67 cents per share, from $3.58 billion, or 60 cents per share, in the year-ago quarter.
Revenue fell to $31.36 billion from $31.82 billion in the year-ago quarter before it sold its telephone directory business. Analysts, on average, had expected revenue of $31.74 billion, according to Thomson Reuters I/B/E/S.
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