AT&T profits beat forecasts
AT&T reported stronger-than-expected third quarter profits as the wildly popular iPhone helped it land a record number of new wireless customers for the period.
Investors have worried about AT&T’s dependency on Apple’s iPhone for growth, but for now it is paying big dividends. AT&T, which has exclusive US rights to the phone, said it was boosted by 3.2m iPhone activations in the quarter, with nearly 40 per cent of those new to AT&T.
Profits for the period between July and September came in at $3.19bn, down 1.2 per cent.