AT&T stays strong against threat of Verizon iPhone

NEW YORK

The country's largest telecommunications company said Thursday that it added a net 331,000 new subscribers on contract-based plans, up from a record low of 62,000 in the first quarter.

Net income was $3.59 billion, or 60 cents per share, for the April to June period. That's down 10.4 percent from last year's $4.0 billion, or 67 cents per share, which was boosted by the sale of stock in an overseas firm.

The latest earnings matched the average forecast of analysts.

Revenue was $31.5 billion, up 2.2 percent from a year ago and slightly above analyst expectations at $31.3 billion.

Its shares edged up 2 cents to $30.25 in premarket trading.

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