AT&T profit misses Wall Street forecasts as pay-TV business lags

The company has been relying on promotions and discounts to stabilize its wireless and pay-TV subscriber numbers, which have taken a toll on its margins, New Street Research analyst Jonathan Chaplin said in an interview. AT&T is fighting the U.S Department of Justice in court to complete its $85.4 billion takeover of Time Warner Inc (TWX.N), which it has called necessary for it to compete for advertising dollars and in an industry increasingly dependent on content. Chaplin said AT&T’s entertainment business performed worse than he expected in the quarter, coming in 4.5 percent lower than his forecast. …read more

Source:: Yahoo Finance


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