Optical/IP Networks

AT&T Q2 Revenue Up 2.2% as Profit Dips

AT&T Inc. (NYSE: T) reported second-quarter revenue of US$31.5 billion Thursday -- up 2.2 percent year-on-year -- thanks to continued wireless growth and smartphone sales, even though its profit declined slightly .

The Dallas, TX-based GSM operator reported net income of $3.6 billion, or $0.60 per diluted share, compared to a profit of $4 billion, or $0.67 per diluted share, in the second quarter of 2010. The year-ago profit was helped by AT&T’s sale of its stock in Telmex Internacional.

Analysts had expected earnings of $0.59 a share and revenue of $31.31 billion, according to a survey by Thomson Reuters .

Shares of AT&T are up $0.29 (0.99%) to $32.50 in morning trading.

— Dan Jones, Site Editor, Light Reading Mobile

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