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AT&T 'optimistic' about DirecTV merger in wake of halt on FCC review
2014-10-24 17:59:52| Telecom - Topix.net
AT&T CFO John Stephens said he wasn't worried about the FCC's decision to stop the 180-day time clock on the review of its merger with DirecTV. The Federal Communications Commission has stopped the clock on its review of the proposed $48.5 billion merger of AT&T Inc. and DirecTV after receiving objections from companies concerned about the release of confidential information.
AT&T lowers FY revenue outlook
2014-10-23 08:26:00| Telecompaper Headlines
(Telecompaper) AT&T has lowered its annual revenue growth outlook to 3-4 percent, from 5 percent previously. The company blamed the downgrade on divestments, such as its Connecticut wireline assets sold to Frontier, an exit from low-margin wireline wholesale businesses and fewer customer additions for AT&T Next, its handset upgrade programme. For the third quarter, the US operator posted revenues up 2.5 percent year-on-year to USD 33.0 billion. Operating profit fell to USD 5.4 billion from USD 6.2 billion a year ago, hurt by higher costs for the integration of Leap and Alltel and the proposed takeover of DirecTV. Excluding these costs, the operating margin was 17.2 percent. Net profit fell to USD 3.0 billion or 58 cents a share, from USD 3.8 billion or 72 cents a share a year ago. Adjusting for USD 0.03 of the previously mentioned merger and integration-related expenses and USD 0.02 of costs for early debt redemption, EPS was USD 0.63, compared to USD 0.66 in the year-ago quarter. Cash from operating activities totaled USD 8.7 billion in the third quarter, and capital expenditures reached USD 5.2 billion.
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AT&T revenue misses forecasts as more customers bring own phones
2014-10-23 06:57:36| Telecom - Topix.net
AT&T Inc on Wednesday reported a rise in quarterly revenue, but the increase was less than Wall Street expected as a wave of subscribers plugged into the network using pre-purchased devices. AT&T's option allowing customers to bring their own devices has become popular this year, and analysts have worried the program may lead to less customer loyalty and a glut of phones in the market.
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Tablets, cars drive AT&T wireless gains - not phones
2014-10-23 02:47:19| Telecom - Topix.net
AT&T said it gained 2 million wireless subscribers in the latest quarter, but most were from non-phone services such as tablets and Internet-connected cars. The net increases in the July-September quarter included nearly 1.3 million connected devices, such as home-security systems.
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Tablets, cars drive AT&T wireless gains_not phones
2014-10-23 02:47:18| Telecom - Topix.net
AT&T says it gained 2 million wireless subscribers in the latest quarter, but most were from non-phone services such as tablets and Internet-connected cars. The company is facing pricing pressure from smaller rivals T-Mobile and Sprint in a competitive environment in which most Americans already have a cellphone.
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