AT&T survives iPhone loss
By Sinead Carew |
April 21, 2011, Thursday
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Print Edition
Print Edition
AT&T Inc's first-quarter subscriber growth weakened after it lost exclusive rights to sell the iPhone in the United States. But the impact was not as bad as Wall Street had feared.
Its addition of 62,000 net contract customers in the quarter was better than the average expectation for a loss of 83,000 customers from seven analysts polled by Reuters.
The reduction from 400,000 new contract customers in the same quarter last year reflected the Verizon Wireless iPhone launch in February.
AT&T earnings rose to US$3.4 billion, or 57 US cents a share, matching the average Wall Street estimate, according to Thomson Reuters I/B/E/S.
A year earlier it posted a profit of US$2.5 billion, or 41 US cents per share.
Revenue rose 2.3 percent to US$31.25 billion compared with analyst expectations for US$31.26 billion, according to Thomson Reuters I/B/E/S. AT&T shares were up 25 US cents at US$30.56 in premarket trading.
Its addition of 62,000 net contract customers in the quarter was better than the average expectation for a loss of 83,000 customers from seven analysts polled by Reuters.
The reduction from 400,000 new contract customers in the same quarter last year reflected the Verizon Wireless iPhone launch in February.
AT&T earnings rose to US$3.4 billion, or 57 US cents a share, matching the average Wall Street estimate, according to Thomson Reuters I/B/E/S.
A year earlier it posted a profit of US$2.5 billion, or 41 US cents per share.
Revenue rose 2.3 percent to US$31.25 billion compared with analyst expectations for US$31.26 billion, according to Thomson Reuters I/B/E/S. AT&T shares were up 25 US cents at US$30.56 in premarket trading.
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