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AT&T surpasses Verizon for subscribers (again), sells lots of iPhone 3G units
      #30900 - 07/23/08 02:32 PM

ATT announced their second quarter results and highlights include adding 1.3 million customers, and selling nearly twice as many 3G iPhones in the first two weeks as orginal iPhone's in last year's launch. By adding those 1.3 million new customers (both pre and post-paid) ATT raised the bar and surpassed Verizon, who had yesterday announced *they* were now the largest carrier in the US with 68.7 million subscribers.

Wireless data revenue was up 52% vs. last year Q2 with strong adoption of Internet and email access. Smartphone subscribers more than doubled from 8% a year ago to 18%. Text messages tripled! You folks must have a bad case of BlackBerry thumb. Churn is down to a very low 1.1%.

# $0.63 reported earnings per diluted share, up 34.0 percent versus $0.47 in the year-earlier second quarter
# $0.76 adjusted earnings per diluted share, up 8.6 percent from $0.70 in the second quarter of 2007
# Consolidated operating income margin expansion to 21.3 percent reported from 16.8 percent in the year-earlier quarter and 25.1 percent adjusted versus 23.9 percent
# 15.8 percent increase in wireless revenues with wireless data revenues from areas such as Internet access, messaging and e-mail up a robust 52.0 percent
# More than 1.3 million net gain in wireless subscribers to reach 72.9 million in service; postpaid subscriber churn down to 1.1 percent, lowest level in company's history.

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Lisa Gade
Editor in Chief, MobileTechReview

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