AT&T Profit Falls in Q3, Passes 100M Wireless Subs

AT&T Inc. (NYSE: T)'s third-quarter profit fell compared with a year ago as it passed 100 million wireless subscribers, the company said Thursday morning.

AT&T posted a net gain in total wireless subscribers of 2.1 million during the quarter, to reach 100.7 million in service. Sales of Android devices more than doubled year over year, and almost half of all smartphone sales were non-iPhone devices. During the quarter, 2.7 million iPhones were activated, AT&T said.

The operator posted a profit of US$3.6 billion, or $0.61 per share, compared with a profit of $12.32 billion or $2.07 per share in the same quarter in 2010. Last year's third quarter included one-time gains from a tax settlement and the sale of Sterling Commerce. Excluding one-time gains, earnings were $0.54 in the third quarter a year ago.

Revenues fell 0.3 percent to $31.48 billion from $31.58 billion a year ago. Analysts surveyed by Thomson Reuters had expected revenue of $31.60 billion for the 2011 quarter.

— Dan Jones, Site Editor, Light Reading Mobile

Be the first to post a comment regarding this story.
Sign In