Skip to main content

The Globe and Mail

AT&T subscriber growth weakens, but beats Street

AT&T Inc.'s first-quarter subscriber growth weakened as it lost exclusive U.S. rights to sell the Apple Inc. iPhone but the impact was not as bad as Wall St feared.

Its addition of 62,000 net contract customers in the quarter was better than the average expectation for a loss of 83,000 customers from seven analysts polled by Reuters.

The reduction from 400,000 additions in the previous quarter reflected the Verizon Wireless iPhone launch in February.

Story continues below advertisement

AT&T earnings rose to $3.4-billion, or 57 cents a share, matching the average Wall Street estimate, according to Thomson Reuters I/B/E/S. A year earlier it posted a profit of $2.5-billion, or 41 cents per share.

Revenue rose 2.3 per cent to $31.25-billion compared with analyst expectations for $31.26-billion, according to Thomson Reuters I/B/E/S.

AT&T shares were up 25 cents at $30.56 in premarket trading.

Its results came the day before the scheduled report of Verizon Communications, which owns Verizon Wireless along with Vodafone Group PLC. The Verizon Wireless iPhone hit stores Feb 10.

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.