“AT&T Inc. reported stronger-than-expected third quarter profit as the wildly popular iPhone helped it land a record number of new wireless customers for the period, sending its shares up 3.7 percent,” Sinead Carew and Paul Thomasch report for Reuters.
“Some investors have worried about AT&T’s increasing dependency on Apple Inc’s iPhone for growth, but at least for now the phone is paying big dividends,” Carew and Thomasch report.
“AT&T, which has exclusive U.S. rights to the phone, said it was boosted by 3.2 million iPhone activations in the quarter, with nearly 40 percent of those new to AT&T,” Carew and Thomasch report. “This helped it report 2 million net customer additions, including 1.4 million valuable monthly-bill paying customers. The average forecast from five analysts contacted by Reuters was for 1.5 million net additions.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]