AT&T on Wednesday halted plans to expand superfast Internet service across the U.S. in what one analyst called a “symbolic protest” against President Obama’s call for public-utility regulation of broadband service. Obama on Monday urged the Federal Communications Commission to impose Title II regulation on cable TV and phone companies, a move opposed by Comcast (CMCSA), Verizon Communications (VZ) and others. Broadband service
China social media and mobile giant Tencent Holdings reported third-quarter earnings that missed views as revenue growth slowed due to investment decisions that analysts say should pay off down the road. Tencent (TCEHY), a chief rival to Alibaba Group (BABA), said Q3 revenue was $3.22 bil, up 28% vs. a year earlier in local currency but slightly below estimates of $3.32 billion. That was also the smallest increase in several years.
YY reported robust Q3 sales and earnings that beat analyst estimates after the close on Tuesday, led by its online music and entertainment operations as well as newer initiatives like an online dating service that started earlier this year. The Chinese social platform also sees Q4 revenue growing 76% to 80% in local currency, while analysts forecasting in U.S. dollars see a 73% gain. Shares rose in late trading, essentially