AT&T Expects DirecTV Deal To Close This Quarter, CFO Says

AT&T expects to close its buy of DirecTV this quarter and its purchase of Nextel’s wireless properties in Mexico should also be wrapped up “shortly,” AT&T Chief Financial Officer John Stephens said Wednesday during an earnings call. Stephens declined to detail why the carrier believes the DirecTV deal will soon close. On the Mexican deal, the remaining hurdle is sign-off from Mexican regulators, he said. AT&T reported 61 cents diluted earnings per share in Q1, compared with 70 cents in the year-ago quarter. Revenue was $32.6 billion, up 0.3 percent vs. the year-earlier period, and up 1.2 percent after adjusting for the sale of Connecticut wireline properties, AT&T said. AT&T reported 1.2 million total wireless net adds, including 441,000 postpaid adds and 684,000 connected cars. Churn came in at 1.02 percent for post-paid subscribers, which Stephens said was the lowest rate ever for AT&T despite a “noisy” environment in the wireless market.