Apple iPhone raise AT&T Profit Up 26%
Apple iPhone raise AT&T profit up to 26%
Since the new model of Apple iPhone has come on the market, AT&T Inc. reported a 26% increase in second-quarter earnings due to lower costs and fewer defections.
One of the largest telecommunications provider said they now expects a “strong” increase in earnings over last year, compared to its previous forecast of results.
AT&T shares rose 77 cents, or 3.1 percent, to $25.69 in midday trading.
The company’s net income rose to $4.02 billion, or 68 cents per share, in the April-June period, from $3.2 billion, or 54 cents a share, one year ago.
Revenues were $30.8 billion, compared with $30.7 billion a year ago and below analyst expectations at $30.9 billion.
Helped by the new iPhone, AT&T once again activated a record number of iPhones: 3.2 million.
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Posted by Marian Ciovirta on Jul 23 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
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