AT&T tops Wall Street’s profit, revenue forecasts

DALLAS — Shares of AT&T Inc. rose Tuesday after the company’s second-quarter profit and revenue beat industry analysts’ projections. The Dallas phone and video company also said that it still expects its $85 billion Time Warner deal to close this year. AT&T bought DirecTV in 2015 and wants the owner of the CNN, TBS and HBO networks and a movie studio so that it can expand beyond its traditional business lines.