AT&T’s first quarter financials: 625,000 new subscribers, strong growth across the board

AT&T’s first quarter financials: 625,000 new subscribers, strong growth across the board
AT&T had a wide array of good news for its first quarter financials, strong revenue as well as very strong wireless subscriber growth. The performance was good enough that the company raised its outlook for the rest of the year.

From a money perspective, revenues were up over 3% from the same quarter last year, $32 billion. Earnings per-share was up better than 10%. The outlook for the rest of the year has been revised upward to be 4% or greater.

Of that pot of money, wireless revenues were up 7% over a year ago. The carrier added 625,000 postpaid customers, and added more than 1 million wireless customers overall. More than half a million smartphones were part of those additions. AT&T says more than 60 million customers are using smartphones. The carrier also added 313,000 tablets to its fold.

Churn (customer loss) was just above 1% (1.07), which was down from the previous quarter, but up slightly from the year prior. AT&T’s smartphone financing offering, AT&T Next, saw 40% of all smartphone transactions, roughly 2.9 million (new adds and upgrades).

AT&T’s Mobile Share rate plans are proving to be popular, account growth tripled and nearly half of the now 11.3 million accounts are on data plans with 10GB or more.

On the wireline front, AT&T saw the best growth since 2006 which is remarkable given the push to make everything wireless. AT&T added 634,000 high speed internet customers, and 201,000 U-Verse TV subscribers.

source: AT&T

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