AT&T's U-verse adds subs
Company reports Q3 profit increaseNEW YORK -- Telecom giant AT&T continued to gain steam for its U-verse TV service in the third quarter, adding 232,000 subscribers on a net basis.
That was up from 170,000 adds in the second quarter and brought total users to 781,000 as of the end of September.
AT&T said Wednesday it is on a trajectory to exceed its target of more than 1 million U-verse TV subscribers by year-end.
Overall, AT&T reported a third-quarter profit of $3.23 billion, up from $3.06 billion a year earlier. Revenue rose 4% to $31.3 billion, in line with Wall Street estimates.
Profitability came in below expectations due in part to expenses related to the introduction of the iPhone 3G, which were a $900 million drag on the bottom line. AT&T said it activated 2.4 million units of the iPhone 3G in the quarter.