iPhone is paying off for AT&T January 24, 2008Posted by chetan in : US Wireless Market , trackback
AT&T’s net income jumped 62% in the fourth quarter, helped by record wireless gains and the acquisition of BellSouth.
The company posted net income of $3.14 billion, or 51 cents a share, from $1.94 billion, or 50 cents a share, a year earlier. AT&T, the exclusive provider of the Apple iPhone in the U.S., said its wireless unit added 2.68 million subscribers in the quarter, which the company called the largest-ever quarterly increase by any U.S. wireless company. About 2.3 million people bought an iPhone in the final three months of the year, Apple said Tuesday.
Wireless Data Revenues touched $2 billion. 3G penetration exceeded 13%, 12% smartphones. iPhone has clearly turned things around for AT&T which was losing the battle to Verizon before its introduction.