$T Reports Flat Earnings on Fewer New Customers

“NEW YORK (AP) — The flow of customers into AT&T’s wireless stores slowed further in the latest quarter, putting the company far behind rival Verizon Wireless.

AT&T Inc. says it added a net 151,000 new customers on contract-based plans from July through September, the lowest number for that period since at least 2003.

The Dallas-based company is blaming short supplies of the iPhone 5, but that didn’t hold back Verizon Wireless, which last week reported adding 10 times as many contract-signing customers.

AT&T’s quarterly net income was $3.64 billion, or 63 cents per share. That’s flat with $3.62 billion, or 61 cents per share, a year earlier.

For the latest quarter, analysts expected earnings of 60 cents per share.

Revenue was also flat with last year at $31.5 billion — analysts expected $31.57 billion.”

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