AT&T Profits Drop 9.7%

by Jordan Yerman | April 22, 2009 at 09:50 am

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Though AT&T continues to gain new wireless subscribers, though it is hemorrhaging customers from its landline services. As a result, profits are down 9.7%, or $4 million from last quarter.

The likely culprit for the continued popularity of AT&T mobile plans? It starts with an "i" and ends with a "Phone"...

AT&T is the exclusive American provider of iPhone service (jailbreaks notwithstanding), and churned out 1.6 million new iPhone activations last quarter alone.

While the company continues to suffer drain from its wireline services, AT&T's wireless business is booming, adding a net 1.2 million subscribers in the quarter. Of that 1.2 million, some 875,000 signed new contracts.

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