AT&T Misses Estimates, Cuts Forecast Amid Price Battle
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AT&T Inc., the second-largest U.S. wireless carrier, missed profit estimates and cut its sales forecast as promotions and price cuts took a toll.
Third-quarter earnings, excluding some items, were 63 cents a share, below the 64-cent average of analysts’ estimates compiled by Bloomberg. The company reduced its 2014 revenue growth forecast to a range of 3 percent to 4 percent, partly because of fewer-than-expected installment plan sign-ups. That was down from a previous projection of about 5 percent.