Dallas-Based AT&T Misses Wall Street 4Q Forecasts
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DALLAS (AP) - AT&T Inc. has reported a quarterly profit that slightly missed Wall Street expectations as it added fewer customers on contracts and other core plans than a year earlier.
The Dallas-based phone and Internet company has a new unlimited-data deal, unveiled this month. The plan requires wireless customers to sign up for the company's TV service, too. AT&T acquired satellite TV provider DirecTV last year.
AT&T on Tuesday said its fourth-quarter net income came to $4.01 billion, compared with a $4 billion loss last year when it booked $10 billion in accounting charges.
Adjusted for one-time items, earnings per share were 63 cents, missing the average estimate of 64 cents from Zacks Investment Research.
Revenue rose 22 percent to $42.1 billion.
For the year, the company reported profit of $13.35 billion.
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