AT&T America’s biggest phone company and sole carrier for the Apple i-Phone in the US announced third-quarter profits, with net income at $3.2 billion which was a 5.5 percent on last year’s $3.06 taking the share value up 55 cents. Sales went up 4 percent to $31.3 billion according to AT&T.
Dallas-based AT&T activated 2.4 million last quarter with roughly 40 percent going to new clients. It’s said that AT&T relied have relied on wireless service due to the lack of interest in home-phone customers and corporate budgets with several large companies reducing orders due to the credit crunch. Business sales to large companies fell to $4.7 billion down 1.4 percent.
Due to the iPhone AT&T added 2 million net wireless subscribers, which was an increase of 2.7 percent, seeing its wireless revenue shoot up 15 percent to $12.6 billion.
In morning trade in New York, AT&T shares fell 89 cents to $24.84, within the last 12 months before today the shares dropped 38 percent.
Source: Bloomberg
