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Apr
22
In the first three months of 2007, AT&T said net profit rose to $3.46 billion, or 57 cents a share, from $2.85 billion, or 45 cents a share, in the 2006 first quarter. Revenue increased 6.1% to $30.7 billion from the same quarter a year earlier.
Wireless sales were up 18.3% to $11.8 billion. AT&T, the exclusive provider of the Apple iPhone, ended the first quarter with a nation-leading 71.4 million mobile customers.
Some Wall Street analysts, however, were expecting the company to add as many as 1.5 million subscribers. AT&T said net additions were reduced by 330,000 customers related to the shutdown of the company’s older TDMA wireless network.
AT&T added 491,000 high-speed Internet customers to bring its total to 14.6 million, also the No. 1 market position in the U.S. And AT&T gained 148,000 customers for its new U-Verse fiber-TV service to finish with 379,000 in service.
Think we’ll see any adjustments based on credit problems like Sprint had a couple of months ago (they blamed subprime subscribers for the company’s $30 billion loss)?
By Jill Miller Zimon at 8:04 am April 22nd, 2008 in Politics
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4 Responses to “Big AT&T profits: my grandfather always said, Invest in utilities”
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I wouldn’t bet the house on it, but it’s entirely possible. AT&T is a credit provider, in partnership with Citigroup, which has been having its own subprime problems lately.
This is what I’m saying…we are such fools.
“Big AT&T profits: my grandfather always said, Invest in utilities”
Well, timing can be important (really important). Those who bought AT&T at a peak in 1999 or 2001 might have paid $58/share, then watched their investment lose 60% of its value by 2003. Today’s close was $37.81, so buyers near the peak still aren’t whole. (price chart)
Well – the grandfather who said that would be about 92 or so now so I’m not sure what he’d say now!