AT&T Inc.'s earnings rose 5.5 percent in the third quarter, but missed analyst expectations because of strong sales of iPhones, which the carrier subsidizes.
The country's largest telecommunications company said Wednesday it earned $3.23 billion, or 55 cents per share, in the July-September period, up from $3.06 billion, or 50 cents per share, in the same quarter a year ago.
Excluding $1.1 billion in merger-related costs, the Dallas-based company earned 67 cents per share. Analysts polled by Thomson Reuters were expecting 71 cents per share.
AT&T's earnings took a hit of $900 million, or 10 cents per share, in subsidies for the 2.4 …
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