AT&T Wireless Services said Tuesday that it lost 367,000 subscribers during the first quarter on little changed revenue.
AT&T Wireless said the subscriber exodus was exacerbated by new rules enabling customers to move to rival services without changing phone numbers and by an unusually high number of customers not tied in by service contracts.
The losses were steeper than analyst estimates for subscriber departures, which ranged from 87,000 to 295,000, according to four financial analysts contacted by Reuters.
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