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AT&T Beats on Skyrocketing iPhone – Analyst Blog

Zacks Market Commentaries (October 22nd, 2009) Writes:
AT&T Inc. (T) announced third-quarter 2009 results, with reported earnings per share of 54 cents beating the Zacks Consensus Estimate of 50 cents while declining from 55 cents reported a year ago. Net income fell 1.2% year over year to $3.2 billion on account of lower revenue. The results were highlighted by growth across wireless and U-verse video businesses. The second largest wireless carrier reported consolidated revenue of $30.9 billion for the quarter, down 1.6% year over year, largely due to lower wireline voice, legacy data and print advertising revenue, which offset growth in wireless and wireline data services. AT&T registered a net gain of 2 million wireless subscribers in the third quarter to reach 81.6 million total subscribers in service, up 9% year over year, driven by strong iPhone activations. This represents the largest third quarter addition in the company’s history. Retail postpaid additions for ...

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