AT&T Profits Rise 22% On iPhone Sales
April 23rd, 2008
During the unveiling of their quarterly results yesterday, AT&T revealed their first quarter results were up by some 22%. With net income jumping from $2.85 billion (45cents/share) to $3.36 billion (57cents/share).
AT&T announced the lare profits were down to gains in the companies wireless business along with the huge success of the Apple iPhone - the iPhone incidently doubled their average revenue per subscriber compared to other wireless customers.
However, AT&T failed to disclose any precise iPhone sales information which led many to speculate that sales were starting to slump a little for the iPhone device, this reaction caused a slight fall in Apple Stock following the announcement.
Apple are expected to publish their quarterly earnings with precise sales information later today.
[via TechCrunch]
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