The company, which is navigating an increasingly competitive U.S. wireless market, reported revenue of $31.56 billion, up 2.3% from a year earlier but below the analyst consensus estimate of $31.80 billion. Adjusted earnings were 65 cents per share, beating analysts’ expectations of 59 cents.
Advanced Connectivity Drives Growth
Revenue in AT&T’s Advanced Connectivity segment, its largest business, increased 4.1% from a year earlier, supported by 5.1% growth in service revenue.
The Legacy segment continued to decline as the company phases out its copper network. Revenue in the segment fell 25.9% year over year.
Latin America revenue rose 16.1%, helped by favorable foreign exchange rates and growth in postpaid wireless subscribers.
