AT&T Profits Decline but Meet Estimates

Published by: Mike Goldman on 20th Oct 2011 | View all blogs by Mike Goldman
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AT&T Profits Decline but Meet Estimates

AT&T released its third-quarter results Thursday, posting a 70 percent decline in profits as its loss of exclusive rights to Apple's iPhone cut into sales.  Despite the profit decline, however, the company's results were in-line with analyst estimates as the company reported 2.7 million iPhone activations in the quarter and 2.1 million activations of non-Apple devices.

For the three months ended September 30th, AT&T posted a net profit of $3.6 billion, or 61 cents a share on revenue of $31.5 billion.  The company's activations of non-Apple smartphones declined by 900,000 from the second quarter, while the carrier activated almost twice as many devices powered by Android, Windows Phone 7 or Black Berry.

That trend will not continue into the fourth quarter, however, as AT&T announced on Wednesday it had activated over a million of Apple's latest iPhone, the 4S, in just its first five days of availability.  At the end of the third quarter, AT&T had a total of 11.7 million active subscribers.

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