Oct
24
AT&T slumps as surprise subscriber loss follows Verizon gain
Posted in: Uncategorized
AT&T posted a surprise loss of subscribers last quarter, just one day after archrival Verizon Communications registered strong results.
AT&T, which was coming off five straight quarters of wireless customer gains, was hit hard by dwindling tablet subscriptions. The devices have become less popular, and many consumers don’t see a need to keep paying monthly connection fees for them. With the rise of online video services like Netflix and Amazon, AT&T also has seen a troubling erosion of its pay-TV customer base.
Third-quarter profit amounted to 90 cents a share, excluding some items, missing analysts’ estimates of 94 cents.
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