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AT&T’s Quarterly Earnings Beat Expectations, Profitability Hit by Higher Costs

Posted in Miscellaneous, News on 23/07/2013 by Chris Hauk

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AT&T’s reported on Tuesday that its quarterly earnings for Q2 2013 were ahead of Wall Street expectations. The carrier added wireless subscribers but saw its profitability take a hit by higher costs.

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Reuters:

AT&T, the No. 2 U.S. mobile service provider, said it added more than 550,000 contract customers in the quarter, slightly ahead of its target for about 500,000 and an improvement from its 320,000 net additions in the year-ago quarter.

The company posted earnings of $3.82 billion, or 71 cents per share, compared with $3.97 billion, or 66 cents per share in the year-ago quarter.

Revenue rose to $32.08 billion from $31.58 billion, Wall Street expectations were for $31.81 billion, according to Thomson Reuters I/B/E/S.

AT&T sold a record 6.8 million smartphones, activating 3.7 million iPhones during the quarter. AT&T also said it activated a company record number of Android smartphones during the quarter.

AT&T shares were mostly flat in after-hours trading after the new earnings report, increasing by $0.10.



Author

Chris Hauk

MacTrast Senior Editor, and self-described "magnificent bastard," Chris Hauk owns Phoenix Rising Services and writes for everyone's favorite "bad movie" website, Big Bad Drive-In.

His first Apple product was an iPod Classic 5 years ago, and he has since added a MacBook Pro, iPad, iPhone, and 2 Apple TVs to his collection.

He lives somewhere in the deep Southern part of America. Yes, he has to pump in both sunshine, and the Internet.

Don't forget to check out Chris' two latest endeavors, as the "Apple Expert" at Answers.com, and his own personal tech blog at chrishauk.com