AT&T Q3 Profit Up 11.2%

(RTTNews) - AT&T Inc. (T) reported third quarter 2016 net income attributable of $3.3 billion, or $0.54 per share, compared to $3.0 billion, or $0.50 per share in the same period last year.

Adjusting for $0.20 of amortization, merger- and integration-related costs and other expenses, earnings per share $0.74, versus $0.74 in the year-ago quarter.

The company's 2016 third quarter results included 24 days of DIRECTV-related operations that were not reported in the comparable period in 2015, contributing to higher revenues and expenses when compared to the same period of the prior year.

Quarterly revenues were $40.9 billion, up 4.6 percent from the year-ago quarter, reflecting increased revenues primarily from its acquisition of DIRECTV.

AT&T also announced that its board has approved a 2.1% increase in its quarterly dividend to $0.49 per share.