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AT&T’s Earnings Reports

April 24, 2007 in Wireless Industry News

Even though AT&T beat analysts’ estimates for the first quarter of 2007, at least where profit was concerned, its wireless division (formerly known as Cingular) was a bit disappointing.

AT&T reported better than expected profits for Q1 2007

Could AT&T be losing customers to rival Verizon Wireless?

AT&T/Cingular brought in 1.2 million new subscribers while six analysts polled by Reuters expected a figure closer to 1.5 million. It did manage to raise the average monthly revenue per consumer to $49.21 though, probably due to an increase in data use – text messaging and data plans.

One analyst guy noted, “it was not clear if the lower wireless growth could reflect an industry wide trend.” – since Verizon has yet to report.

Shares of the telecom giant’s stock fell 2% to $39.30.

Source: “AT&T’s profit doubles” – CNN Money

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