AT&T Profits Rise Thanks to the iPhone

by Jody Mitoma on April 28, 2008 at 10:28 am

AT&T AT&T; the largest communications holding company in the world -revenue-wise - has unveiled their year-to-date results. Their first quarter results rose by 22%. According to the AT&T, profits were mostly caused by gains in the companies wireless business. As you might have already guessed, this is mainly because of iPhone sales, which doubled the average revenue per subscriber that AT&T gets from other wireless customers.

The company said it gained 1.3 million net wireless subscribers for the quarter, the majority of which were new iPhone subscribers.

AT&T had announced that their net income jumped from $2.85 billion, up to $3.46 billion when comparing to the previous year. This is a difference of 12 cents per share; 57 cents this year compared to 45 cents last year.

AT&T didn’t break out the numbers of iPhone additions as earlier. The number could still be around 1.5 million because other carriers besides AT&T are selling it internationally, and about 30 percent are unlocked. By the end of last year, AT&T had activated two million iPhones.

(Source: TechCrunch via iPhone.Blogvasion)