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AT&T meets expectations with $0.67 EPS in Q2 2013 earnings

Updated Jul 23rd, 2013 8:39PM EDT
AT&T Financial Q2 Earnings

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It’s been a curious quarter for AT&T because it’s actually had to respond to competitive pressure from T-Mobile, the underdog carrier whose “UNcarrier” initiative at first elicited response of “whatever” from Ma Bell. But after T-Mobile unveiled its new JUMP early upgrade program for smartphone buyers, AT&T quickly responded with its own similar program known as AT&T Next. What’s more, questions have been raised about AT&T’s subscriber growth over the past quarter because both Verizon and T-Mobile have added subscribers, which implies that AT&T may post stagnant or even declining subscriber numbers in its second-quarter earnings report.

AT&T put all that speculation to rest today, however, when it released its Q2 earnings report showing that the carrier posted earnings per share of $0.68 on revenues of $32.1 billion, thus matching Wall Street consensus projections of $0.68 EPS on revenues of $31.82 billion. In terms of subscribers, AT&T added 551,000 new postpaid subscribers while selling a company record 6.8 million smartphones. The carrier also activated 3.7 million iPhones on the quarter, which was less than rival Verizon, which activated 3.9 million iPhones last quarter. AT&T also claimed that it activated a company record number of Android smartphones on the quarter.

AT&T shares were mostly flat in after-hours trading after the new earnings report, increasing by $0.10.

Brad Reed
Brad Reed Staff Writer

Brad Reed has written about technology for over eight years at and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.