AT&T Profit Up On Wireless

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AT&T recently announced that their profit for the first quarter was up due to increased sales in their wireless division while they saw declines in traditional LAN phone lines for the same period.

AT&T’s first-quarter profit rose 21.5 percent to $3.46 billion, or 57 cents per share, from $2.85 billion, or 45 cents a share, in the same quarter a year earlier.

Profit before items, such as merger-related costs and severance charges for recently announced job cuts, totaled 74 cents and matched Wall Street expectations, according to Reuters Estimates.

Quarterly revenue rose 6.1 percent to $30.7 billion, compared with $30.6 billion expected by analysts.

AT&T is the exclusive retailer (and service provider) for the Apple iPhone.

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