U.S. Markets closed

AT&T Misses On Top & Bottom Lines, Churn Down in Q2


AT&T posted second quarter earnings of 62 cents a share on revenue of $32.6 billion. Wall Street analysts were looking for 63 cents a share on sales of $33.22 billion. Last year, the company earned 67 cents a share on $32.08 billion in revenue. Although the telecom titan missed Wall Street estimates on the top and bottom lines, the company said it added more than 2 million new wireless and wireline high speed broadband connections in the quarter. It also reported its best-ever postpaid churn of 0.86%. Finally, wireless revenue was up 3.7% versus the year-ago quarter, while wireless data billings surged almost 20% versus the year-earlier quarter. TheStreet's Gregg Greenberg has details from New York.