AT&T profit up on wireless growth, iPhones
Posted by Dennis Sellers 
Jan 24, 2008 at 9:34am
AT&T posted higher quarterly profit after better-than-expected wireless growth, sending its shares up almost three percent in pre-market trading (as reported by Reuters).
The biggest U.S. telephone company said its fourth-quarter profit was US$3.1 billion, or 51 cents per share, compared with $1.9 billion, or 50 cents a share, in the year-ago quarter. Most of the year-ago quarter excludes earnings from BellSouth, which AT&T bought at the end of 2006.
AT&T, the exclusive U.S. carrier for the iPhone, said it added 2.7 million net wireless subscribers in the quarter compared with average estimates of 1.9 million from four analysts contacted by Reuters. Estimates ranged from 1.35 million to 2.36 million.
AT&T ended 2007 with “just at or slightly under 2 million iPhone customers,” said Chief Financial Officer Rick Lindner, referring to iPhone sales on the company’s quarterly earnings call. “We had very solid sales results in October and November and we had almost double sales in December.”
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 10,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
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