AT&T Shares Fall Despite Raising
Photo: David Zalubowski AP/TT

AT&T Shares Fall Despite Raising Full-Year Profit Forecast After Strong Third Quarter

Shares in American mobile operator AT&T are down more than 4 percent in Wall Street futures trading, despite the company raising its full-year profit forecast after unexpectedly strong sales and profits in the third quarter.

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Net additions of new subscribers were slightly lower than expected at 379,000. This compares with analysts’ average forecast of 387,410, according to Bloomberg.

Revenue during the quarter increased to $32.3 billion, up 5.3 percent from the same quarter last year. Analysts’ average forecast was $31.7 billion, according to Bloomberg.

Earnings per share were 65 cents, compared with expectations of 60 cents.

For the full year, AT&T - whose stock has fallen almost 6 percent so far this year - now expects earnings of $2.40 per share.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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