AT&T Shares Down 3% After Earnings Miss

AT&T just reported earnings and revenue that missed expectations.

In immediate reaction in after hours trade, the stock was down as much as 3%.

AT&T reported third quarter adjusted EPS of $US0.63 against expectations for $US0.64 on revenue of $US33 billion against expectations for $US33.24 billion.

The wireless carrier also announced that it added 785,000 net postpaid subscribers in the third quarter, bringing its net adds to more than 2.4 million year-to-date.

The company also said that it expects full-year consolidated revenue growth of 3%-4% this year, including the impact from fewer AT&T Next gross adds and a larger than expected number of wireless subscribers who brought their own device to the company.

The company had previously expected revenue to grow 5% this year.

Wall Street’s expectations were for revenue to come in at $US133.1 billion.

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