The telecommunications group AT&T today announced an attributable net profit of 14,512 million dollars in the first nine months of the year, 39.4% more than in the same period of 2017.
The company, which this year acquired Time Warner in an operation of more than 85,000 million dollars, earned $ 2.19 per share, compared to $ 1.69 a year ago, according to a statement. Billing of the second US mobile phone group amounted to 122,763 million dollars through September, a year-on-year increase of 3.3%.
In the most recent quarter, the net profit attributable to AT&T was 4,718 million dollars, 55.8% more than last year, but did not meet analysts’ expectations. Although the company managed to increase its telephone contracts above expectations, the accounts of its satellite television business disappointed investors.
AT&T, like other companies, continues to lose television subscribers who opt for cheaper platforms such as Netflix and Hulu, but the fall in the third quarter was clearly above what experts expected. As a result, their shares suffered heavy losses on Wall Street today and at this time they were plummeting more than 7%
Between July and September AT & T had a total turnover of 45.739 million dollars, 15.3% more than on the same dates of last year. The company closed its acquisition of Time Warner last June after obtaining the green light of a federal judge despite the Government’s attempts to stop the merger alleging possible damages to the sector.