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AT&T misses Wall Street profit estimate, shares fall


By Sheila Dang and Akanksha Rana(Reuters) - AT&T Inc posted a surprise gain in U.S. wireless subscribers on Wednesday but quarterly profit rose less than expected, held back by its declining satellite TV business, sending its shares down more than 3 percent before the bell.The second-largest U.S. wireless carrier has been reducing its dependency on the phone business with its $85-billion acquisition of Time Warner this year, but is struggling to grow in the TV market as viewers ditch satellite and cable for cheaper online packages. AT&T gained a net 69,000 phone subscribers in the United ...

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First Published: Wed, October 24 2018. 17:41 IST