AT&T reports better results than expected, with a 9.7% drop in Q1 earnings
The carrier has added 1.2 mln. new subscribers after accounting for those who left the network and 875,000 of the new customers signed a contract. This is a gain of 24.1% from last year's figures. Ma Bell sold 1.6 million Apple touchscreen devices with 40% of their buyers becoming new AT&T customers. Craig Moffett, an analyst with Sanford Bernstein, said the iPhone was the main reason behind the networker's growth, as revenues from wireless data rose 39% in the period to $3.2 bln. In comparison to the strong wireless performance, AT&T reported that revenues from its traditional wireline business dropped 12.2% in the same quarter.
source: NY Times