AT&T first-quarter profit beats Street estimates

AT&T Inc on Wednesday reported quarterly profit that beat Wall Street estimates by a penny and lower-than-expected revenue that was nearly flat from a year ago. Excluding items, AT&T earned 63 cents per share, ahead of analysts' average estimate of 62 cents per share, according to Thomson Reuters I/B/E/S. Revenue was $32.58 billion compared to $32.48 billion a year earlier.