NEW YORK, Oct 24 (Reuters) - AT&T Inc’s quarterly results missed Wall Street estimates as the U.S. No. 2 wireless carrier lost video subscribers to pay-TV competitors.
The company reported net income of $3.0 billion, or 49 cents a share, for the quarter ended Sept. 30, down from $3.3 billion, or 54 cents a share, in the year-earlier period.
Excluding some items, it reported earnings of 74 cents. On that basis, analysts on average were expecting earnings of 75 cents per share, according to Thomson Reuters I/B/E/S.
Revenue was $39.7 billion, down from $40.9 billion in the year-earlier period. Analysts had expected $40.1 billion, on average. (Reporting by Anjali Athavaley; Editing by Bill Rigby)