AT&T - Earnings Report

AT&T on Tuesday reported its first quarter earnings for 2012 and noted $31.8 billion in consolidated revenues, up $575 million, or 1.8 percent from the first quarter of 2011. The company said its wireless unit sold 5.5 million smartphones, a record for any first quarter, and that it activated 4.3 million iPhones overall. Doing the math real quick it appears that AT&T only sold 1.2 million non-iPhone smartphones — pretty wild. AT&T also said its 1.10% churn — the percentage of customers who left or cancelled their wireless subscription — was the best postpaid churn in seven quarters and was down from the same quarter last year. The company had 726,000 total wireless net adds during the quarter.

The company's wireless, wireline data and managed services represented 78% of its revenues. AT&T noted a 19.9% growth in wireless data revenunes, a 19% growth in strategic business service revenues, nad a 38.2% growth in consumer U-verse revenues.

"We continue to capitalize on our terrific momentum in mobile Internet," Randall Stephenson, AT&T chairman and CEO said. "Smartphone and branded computing device sales continue to set a record pace, mobile data revenues were up nearly 20%, and we achieved this growth with expanding margins. These results add confidence in our outlook for the year."