AT&T Mobile-Phone Subscribers Notch Surprising Gain
- Fewer customers canceled and many added wireless to broadband
- Revenue missed estimates; earnings per share were in line
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AT&T Inc. added far more mobile-phone subscribers than Wall Street expected in the second quarter, with fewer customers canceling and many adding wireless service to their broadband plans.
The No. 3 US wireless provider reported a net 419,000 new monthly phone subscribers, according to a statement Wednesday. That marks the first year-over year increase in eight quarters. Analysts were expecting 279,000, according to data compiled by Bloomberg. The shares rose 2.6% in premarket trading in New York on Wednesday.