AT&T announced its first quarter 2014 earnings and all appears to be healthy. The company noted an EPS of 71 cents on $32.5 billion in revenue for the quarter beating out analyst estimates of 70 cents EPS on revenue of $32.47 billion for the quarter. That revenue figure is up 3.6 percent — about $1 billion — from the same period in 2013.
AT&T wireless revenues were up 7 percent over the first quarter of 2013. The company’s wireless arm added more than 2 million new wireless and wireline customers during the quarter. It noted 313,000 branded tablet net adds, 1.1 million postpaid smartphone additions — though that includes upgrades and new subscribers. Postpaid subscribers were up 625,000 in the first quarter, the best growth in 5 years.
AT&T also said it now has 11.3 million Mobile Share accounts, tripling since the first quarter of 2013. Another interesting fact: AT&T said 46 percent of its accounts have plans that provide 10GB of data per month or more. AT&T Next plans are attractive, too, and the company said more than 40 percent of the 2.9 million smartphones added/upgraded during the quarter were on its new accelerated upgrade plans.
Shares of AT&T are up a hair in after hours trading on the news.