AT&T Beats 3Q Profit Forecasts, Raises Outlook For Year
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DALLAS (AP) - AT&T Inc. has reported a third-quarter profit that topped analyst expectations and raised its outlook for the year.
In the July-September quarter, AT&T's net income rose 6 percent to $2.99 billion.
The mobile carrier and home phone, Internet and TV provider acquired satellite TV company DirecTV in late July. Dallas-based AT&T on Thursday said that deal helped increase the quarter's revenue.
On a per-share basis, the company had a profit of 50 cents. Adjusted for one-time items, earnings came to 74 cents per share. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
Revenue rose 19 percent to $39.09 billion. The six analysts surveyed expected a bigger increase, to $40.99 billion.
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