Telecoms Up Amid Deal Activity -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies rose amid deal activity. After the bell, AT&T reported first-quarter revenue fell to $39.4 billion from $40.5 billion a year earlier. Verizon Communications topped AT&T's $1.6 billion offer for Straight Path Communications, a sign that the wireless airwaves controlled by the tiny company have become an increasingly prized commodity ahead of the "next generation" 5G data network. T-Mobile US shares rose despite a decrease in the rate of its subscriber growth in its latest quarter. Chief Executive John Legere noted that T-Mobile's addition of 798,000 postpaid subscriber compared well to Verizon's reported decline in subscribers.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

April 25, 2017 16:48 ET (20:48 GMT)