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July 26, 2013

AT&T Has Positive News to Share About Q2 Revenue, Growth in Subscribers

AT&T had some reasons to celebrate about its most recent quarter with the announcement that there were many subscribers added during Q2 and the company’s revenue was higher than analysts had predicted.

AT&T reports that it added some 551,000 postpaid net subscribers during Q2. It also added some 1.2 million smartphone subscribers.

Revenue jumped to $32.08 billion during the recent quarter, compared to $31.58 billion during the same quarter a year ago, news reports said. Analysts predicted revenue for the recent quarter would be $31.81 billion.

In addition, net income during the quarter was $3.88 billion, compared to $3.90 billion during Q2 of 2012. That’s a drop of 2.1 percent. That was blamed on increasing costs, Reuters said.

Also, earnings of 67 cents a share, not including one-time costs, were one cent less than analysts had predicted, Thomson Reuters reported.

In addition, AT&T saw increases in the wireless and enterprise units during the recent quarter.

“Both wireline and wireless revenue were a little better than I expected,” Todd Rethemeier, an analyst with Hudson Square Research, told Reuters.

AT&T remains the No. 2 mobile service provider after Verizon Wireless.

Looking ahead, AT&T is expecting to be able to reach 2-percent growth in revenue for all of 2013, Reuters said. Also, the company says its LTE network build is expected to be “substantially complete” by next summer. The company appears happy with the results seen in the most recent quarter.

“This was a solid quarter for revenue and customer additions across our key growth platforms,” Randall Stephenson, AT&T’s chairman and CEO, said in a statement carried by MobilityTechzone. “Our 4G LTE network is the fastest and the most reliable in the nation, and deployment is ahead of schedule. That contributed to a step-up in postpaid subscriber gains, and strong mobile data revenue growth of nearly 20 percent. Growth in U-verse and strategic business services also continued to be strong—adding to our momentum.”

It was also reported by AT&T in a statement that both PCWorld and PC Magazine said during Q2 that AT&T's 4G LTE network is the fastest such network in the United States.




Edited by Alisen Downey


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