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Strong customer growth helps AT&T beat profit estimates

Published 07/23/2015, 05:44 PM
© Reuters. People walk past the AT&T store in New York's Times Square
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(Reuters) - AT&T Inc (N:T) reported a better-than-expected quarterly profit as the second-largest U.S. wireless carrier added postpaid customers.

AT&T's shares were up 2 percent at $34.60 in extended trading on Thursday.

AT&T said it lost fewer users to other networks and it had 410,000 postpaid net additions in the second quarter ended June 30.

The company's average revenue per user (ARPU) was $61.26 per postpaid phone, while analysts polled by market research firm FactSet StreetAccount had estimated $57.07.

The company, which in May last year offered to buy DirecTV (O:DTV) for $48.5 billion to create the largest U.S. pay TV company, is close to wrapping up its deal as U.S. telecom and antitrust regulators signaled a green light for the merger.

AT&T also said it had prepaid net additions of 331,000 in the second quarter, while analysts had expected the company to lose 27,000 customers.

The company earned 69 cents per share, excluding items, 6 cents above the average analyst estimate.

© Reuters. People walk past the AT&T store in New York's Times Square

Revenue rose 1.4 percent to $33.02 billion, but missed analysts' average estimate of $33.05 billion, according to Thomson Reuters I/B/E/S.

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