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AT&T reports its best ever first quarter profitability

Published: Apr 20, 2023, 11:05 AM

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AT&T reports its best ever first quarter profitability

While AT&T went and reported some mixed Q1 earnings, sending its stock in a tailspin, the stellar performance of its mobile division was undeniable. AT&T's mobility unit clocked its best ever profitability for the first quarter, with 8% rise in earnings before interest, taxes, depreciation, and amortization (EBITDA).

In short, AT&T's cellular business did great last quarter, but the rest of its portfolio - not so much. Out of its $30.22B in revenue, a grand total of $20.6B came from the mobility unit which added no less than 424,000 of the coveted postpaid phone subscribers in Q1.

Furthermore, AT&T's churn rate - the number of people leaving the network for greener pastures - was also very low, at just 0.81% for postpaid subscribers, and 2.73% for prepaid. All in all, AT&T netted $6 billion in operating income this past quarter, about $500 million more than Q1 of last year.

Seeking Alpha analysts peg AT&T's good cellular phone business performance at its increased 5G network coverage and attractive phone price promotions during the quarter, like the Samsung Galaxy S23 deals it had, especially the ones for the mighty Galaxy S23 Ultra.

Samsung Galaxy S23 Ultra starts at $199.99

Going for AT&T or T-Mobile gets you the S23 Ultra starting at $199.99 (with trade-in). The unlocked model starts at $449.99. You can also get the Ultra for US Cellular and Verizon, and there the phone starts at $449.99 and $399.99 respectively. Plus, you get exclusive Red, Blue, and other colors only at Samsung!

$199 ⁹⁹

$1199 ⁹⁹

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Galaxy S23 Plus starts at FREE (256GB version)

With an eligible trade-in, the Galaxy S23 Plus starts at $0 for AT&T and T-Mobile. US Cellular, or Unlocked variants start at $299.99 for the 256GB version. Verizon's version starts at $199.99, and of course, all these discounts are with eligible trade-in. If you wish to go for the 512GB version, you can have it starting from $119.99 (for AT&T and T-Mobile).

$999 ⁹⁹

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Galaxy S23 for free with eligible trade-in!

The Galaxy S23 can be yours for free with eligible trade-in for the AT&T or the T-Mobile version. For Verizon, US Cellular, or unlocked, you pay only $99.99 with trade-in. If you'd like more storage, the 256GB version can be yours for FREE with trade-in on AT&T and T-Mobile, for $59.99 at Verizon, and for $159.99 at US Cellular or unlocked.

$799 ⁹⁹

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As for the 5G network coverage expansion, AT&T is no T-Mobile just yet, but it now blankets 160 million people with its 5G network, way ahead of what was thought possible last year at that time. Hopefully, AT&T will keep its good promotions going strong in the current quarter as well.

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Daniel, a devoted tech writer at PhoneArena since 2010, has been engrossed in mobile technology since the Windows Mobile era. His expertise spans mobile hardware, software, and carrier networks, and he's keenly interested in the future of digital health, car connectivity, and 5G. Beyond his professional pursuits, Daniel finds balance in travel, reading, and exploring new tech innovations, while contemplating the ethical and privacy implications of our digital future.