Originally published at www.seclive.com
Filing in Focus: AT&T 8-K, October 23, 2013
AT&T, Inc. (NYSE:T) announced financial results that exceeded analyst expectations, as the second-largest U.S. wireless carrier reported increases in sales and revenue. Sales increased 2.2% to $32.2B, which was consistent with analyst estimates. Most notably, the company added 363,000 new customers this quarter, as opposed to the 151,000 this same period a year ago. AT&T has been spending money to upgrade its network and better compete against the other large carriers including Verizon (NYSE:VZ), T-Mobile (NASDAQ:TMUS), and Sprint (NYSE:S). With recent 4G LTE technology becoming more common as all carriers work to improve their networks, marketplace competition is heating up as Verizon added 927,000 and T-Mobile added 401,000 new subscribers during the quarter. AT&T earnings increased 4.9% from $3.64B and $0.63 per share to $3.81B and $0.72 per share.
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