The Canadian Press

AT&T second-quarter profit up 30 per cent, matching Street's view

Wed Jul 23, 8:20 AM

By The Associated Press

NEW YORK - AT&T Inc. says its second-quarter earnings rose 30 per cent, but its revenue missed analysts' estimates.

America's largest telecommunications company said Wednesday it earned US$3.77 billion, or 63 cents per share, in the three months ended June 30.

That's up from $2.90 billion, or 47 cents per share, in the same period a year ago.

Excluding items, AT&T says it earned 76 cents a share. That matches the average estimate by analysts polled by Thomson Financial.

The Dallas-based company says its revenue rose 4.7 per cent to $30.9 billion. Thomson says analysts expected $31.1 billion in revenue.

AT&T says it added 1.3 million wireless subscribers, but lost 1.56 million wired phone lines.

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