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AT&T Q2 Earnings: Record Android Sales, Profits Down

by Jacob Kleinman | July 23, 2013July 23, 2013 10:00 pm PST

AT&T Headquarters

AT&T posted its Q2 earnings report today, boasting a revenue of $32.1 billion over the past three months to beat out analyst predictions set at $31.8 billion. However, the carrier’s net profit dropped 2.1 percent from last year down to $3.8 billion. The company also posted an earnings per share of $0.67, falling just a cent short of analyst forecasts, though this figure leaves out the 4 cent gain that AT&T saw after selling off a share of America Movil, Forbes explained.

The company reported that it gained 2 million new connections in the past three months, including wireline and wireless customers. Wireless revenues increased 5.7 percent during the quarter and AT&T said it achieved record Android sales. 1.2 million new smartphone subscribers were added during the quarter, and 88 percent of postpaid phone sales were attributed to smartphones. In addition, wireless data revenues were up 19.8 percent compared to the same quarter last year. Smartphone data usage was up 50 percent year-over-year.

“Our 4G LTE network is the fastest and the most reliable in the nation, and deployment is ahead of schedule,” said AT&T chairman and CEO Randall Stephenson in an official statement.

AT&T’s stock price was down slightly in after hours trading following the news after rising 6.4 percent since the beginning of the calendar year. Meanwhile, rival carrier Verizon’s stock price was up slightly in after hours trading.

AT&T Forbes

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...