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AT&T posts slight beat in fourth-quarter earnings

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AT&T Inc on Tuesday reported earnings and quarterly revenue that slightly beat Wall Street expectations as its mobile device deals attracted more customers.

[SAN FRANCISCO] AT&T Inc on Tuesday reported earnings and quarterly revenue that slightly beat Wall Street expectations as its mobile device deals attracted more customers.

The second-largest US wireless carrier posted a net loss of US$4 billion, or 77 cents per share, in the fourth quarter, compared with net income US$6.9 billion, or US$1.31 per share, a year ago.

Shares in AT&T were up 2 per cent in after-hours trading after closing at US$32.81 on the New York Stock Exchange.

AT&T said it had added more than 2 million new wireless customers and 854,000 contract subscribers in the quarter.

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The company said postpaid churn, or the rate of customer defections, rose to 1.22 per cent and average revenue per phone user declined 10.7 per cent from a year earlier.

Excluding items, AT&T earned 55 cents per share, a penny more than analysts' forecasts.

Revenue rose to US$34.4 billion from US$33.16 billion in the year-ago quarter. Wall Street analysts, on average, had expected US$34.27 billion, according to Thomson Reuters.

REUTERS

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