AT&T Inc. (T) Beats EPS Estimates By A Penny

AT&T Inc. (T) Beats EPS Estimates By A Penny

AT&T Inc. (NYSE:T) reported its latest results after closing bell today, just barely edging out consensus for earnings per share. The carrier posted 66 cents per share in earnings excluding items. That’s compared to last year’s earnings per share of 62 cents.

AT&T Inc. (T) Beats EPS Estimates By A Penny

Consolidated revenues for the third quarter were $32.2 billion, a 2.2% increase over the results from the same quarter a year ago. AT&T reported having more than 2 million new wireless and wireline high speed broadband connections at the end of the third quarter.

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AT&T sees growth in wireless revenues

AT&T Inc. (NYSE:T) reported that wireless revenues rose 5.1% during the quarter, while service revenues climbed 3.7%. Wireless data revenues climbed 17.6% year over year. The carrier also reported record third-quarter smartphone sales of 6.7 million during the September quarter and almost 1 million net subscribers added, including 363,000 wireless postpaid net adds, which is double last year’s results. That includes 178,000 smartphones.

AT&T reported 1.2 million new smartphone subscribers added during the quarter, saying that smartphones made up a record 89% of postpaid phone sales. One of the key drivers of AT&T’s smartphone growth during the third quarter was likely the record launch of Apple Inc. (NASDAQ:AAPL)’s two new iPhones.

AT&T also posts gains in U-verse

The company said revenues from its U-verse services climbed 28.1%, while total subscribers to the service passed 10 million. According to the report, U-verse now has $12 billion in annualized revenue.

The carrier reported that wireline consumer revenue grew 2.4% year over year. It said the third quarter had the first month in which U-verse recorded a billion in revenue. Total U-verse subscribers included 655,000 high speed Internet subscriber net adds and 265,000 U-verse TV subscribers added. AT&T Inc. (NYSE:T) reported that this was the second highest net add quarter for U-verse TV ever and the best quarter in almost five years.

It also reported record U-verse broadband gains of 97,000 in the business segment.

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