AT&T posts solid first quarter results

AT&T has posted revenue of USD31.8 billion for the first quarter of 2012, up nearly 2% year-on-year. Net income came in at USD3.58 billion, up more than 5% and above analysts’ expectations. Sales were boosted by the company’s wireless division, which posted revenue growth of 5.4% to reach USD16.1 billion, thanks partly to a 19.9% gain in wireless data revenue. The post-paid subscriber base grew by 197,000, up strongly from 62,000 in the first quarter of 2011 but still some way below the 501,000 net post-paid additions recorded by rival Verizon Wireless this quarter. Post-paid ARPU during the three months under review rose to USD64.46 per month, up from USD63.39 a year earlier. Wireline revenues continue to inch downwards, falling 1% year-on-year to USD14.9 billion. The telco added 103,000 broadband subscribers during the quarter, down from 177,000 in the corresponding period last year.