AT&T shares fell 0.9 percent to $33.75 after closing at $34.50 on the New York Stock Exchange.
The company reported a record low number of customer defections, but average revenue per phone user fell 8 percent from a year earlier.
AT&T added 2 million new wireless customers and 785,000 contract subscribers in the quarter.
Wireless service revenue was flat while equipment revenue increased 44 percent.
The No. 2 U.S. mobile provider said on Wednesday that excluding items it earned 63 cents per share, a penny below Wall Street expectations, according to Thomson Reuters.
Revenue rose 2.5 percent to $33 billion from $32.2 billion in the year-ago quarter.
