AT&T today reported solid second-quarter results, indicating strong growth in wireless and data services and huge demand for the iPhone 3G.
Randall Stephenson, AT&T chairman and chief executive officer said, “Earnings growth continues to be solid, our wireless momentum is strong, our major growth and cost-reduction initiatives are on track, and we continue to return substantial value to shareowners.
“As we generate sound financial results, AT&T also has taken the lead to innovate and create great solutions for customers,” Stephenson said. “Mobility, broadband connectivity and integrated services that encompass voice, data and video are driving a new world of communications. AT&T is all about deploying and enhancing premier networks and products to deliver this world to both business and consumers.
“The Apple iPhone 3G is a dramatic example of this transformation,” he added. “In the days following our exclusive US launch of this new device, powered by the nation’s fastest 3G wireless network, customer response has been everything we had anticipated and more. This strengthens our wireless business, and it reinforces our positive view of the opportunities ahead for AT&T and the industry.”
The company says it expects continued strong growth in wireless data services as more customers choose data plans and advanced wireless devices such as the new iPhone 3G.
AT&T also confirmed that sales of the iPhone 3G were "nearly double levels achieved in AT&T’s 2007 iPhone launch" across the 12 days following its US launch. And that’s despite limited availability of the device.
For the quarter ended June 30, 2008, AT&T’s consolidated revenues totaled $30.9 billion, up 4.7 per cent versus reported results in the year-earlier quarter.