AT&T made a huge recovery from its last earnings report, where it reported a $6.7 billion net loss, for the first quarter. The company today reported revenues of $31.8 million, up 1.8 percent from last year, with profit of $3.58 billion, thanks mostly to a 41.6 percent increase in wireless margins.
Notably, the company solder fewer iPhones than last quarter — 4.3 million versus 7.6 million — which actually seemed to help wireless profits since it didn’t have to shell out expensive subsidies. AT&T sold 1 million more iPhones than Verizon reported for the quarter, an its iPhone sales accounted for 78 percent of the 5.5 million smartphones. Wireless revenue increased by more than $1 billion compared to last year, with 19.9 percent growth.
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Filed under: mobile, VentureBeat
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