AT&T (T) Gains 2M Wireless Subs During Q1, Results In-Line
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AT&T, Inc. (NYSE: T) shares are trading higher Wednesday morning following a first-quarter earnings report which came largely in-line with expectations.
Net income in the quarter was $3.4 billion, or $0.57 per share, a 36 percent increase from the $2.5 billion reported in the same period last year.
Revenue in the quarter was 2.3 percent stronger, to $31.25 billion.
Overall, analysts were looking for EPS of $0.57 on sales of $31.27 billion.
CEO Randall Stephenson commented, "We posted double-digit wireless revenue growth, and we set new first-quarter records in total net adds, connected device net adds and smartphone sales. Growth in tablets and other branded computing subscribers also continues to be strong."
AT&T reported a net gain of two million wireless subs in the quarter, bringing total subs to 97.5 million. Wireless data revenue jumped 23.9 percent to $5.1 billion. ARPU in the quarter increased 2.4 percent to $63.39.
Smartphone sales for the first quarter were 5.5 million units.
Churn in the quarter was relatively stable, 1.36 percent compared with 1.30 percent during the same quarter last year.
Wireline sales grew 0.5 percent to $5.3 billion.
AT&T's U-Verse service saw net adds of 318,000 subs to 3.2 million in service.
AT&T is up about 1.6 percent in pre-market action Wednesday.
Net income in the quarter was $3.4 billion, or $0.57 per share, a 36 percent increase from the $2.5 billion reported in the same period last year.
Revenue in the quarter was 2.3 percent stronger, to $31.25 billion.
Overall, analysts were looking for EPS of $0.57 on sales of $31.27 billion.
CEO Randall Stephenson commented, "We posted double-digit wireless revenue growth, and we set new first-quarter records in total net adds, connected device net adds and smartphone sales. Growth in tablets and other branded computing subscribers also continues to be strong."
AT&T reported a net gain of two million wireless subs in the quarter, bringing total subs to 97.5 million. Wireless data revenue jumped 23.9 percent to $5.1 billion. ARPU in the quarter increased 2.4 percent to $63.39.
Smartphone sales for the first quarter were 5.5 million units.
Churn in the quarter was relatively stable, 1.36 percent compared with 1.30 percent during the same quarter last year.
Wireline sales grew 0.5 percent to $5.3 billion.
AT&T's U-Verse service saw net adds of 318,000 subs to 3.2 million in service.
AT&T is up about 1.6 percent in pre-market action Wednesday.
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