DALLAS (AP) _ AT&T Inc. (T) on Thursday reported third-quarter net income of $2.99 billion.
On a per-share basis, the Dallas-based company said it had profit of 50 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 74 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The telecommunications company posted revenue of $39.09 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $40.99 billion.
AT&T expects full-year earnings in the range of $2.68 to $2.74 per share.
AT&T shares have increased 1 per cent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $33.96, a drop of roughly 2 per cent in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on T at http://www.zacks.com/ap/T
_____
Keywords: AT&T, Earnings Report, Priority Earnings
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.