AT&T beats profit estimates in Q1, sells 4.3 million iPhones

AT&T beats profit estimates in Q1, sells 4.3 million iPhones
AT&T just posted another stellar quarter, thanks to the increased data usage coming from both smartphones and wireline data consumption increase. The carrier made about a billion more from data compared to the January-March period of last year.

In total AT&T locked in $31.8 billion of revenue, of which it netted $3.6 billion in profit, or about $0.6 a share, beating Wall Street's consensus of $0.57 a share.

As per the boss Randall Stephenson, AT&T's chairman and chief executive officer:

The company sold the record for a first quarter 5.5 million smartphones, and clarified that about 30% of its smartphone customers on contract are using 4G-capable handsets. Tablets and tethering plans also broke the previous record in sales, contributing to the overall rosy picture, and churn rate was the lowest in seven quarters. 

AT&T will have a conference call at 10AM Eastern, but out of the 5.5 million smartphones sold, the carrier said 4.3 million were of the Apple variety. Verizon sold a million of them less than the previous quarter, and AT&T's 4.3 million number is 3.3 million short of the Q4 record, so Apple's earnings today might get interesting.

source: AT&T

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