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THURSDAY, NOVEMBER 26, 2009
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 EARNINGS REPORT 
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Wireless Drives AT&T Growth

Company posts 22% increase in net income for Q1 despite dip in landline earnings

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(Newser) – AT&T posted a 22% increase in net income during the first quarter, thanks to strong growth in its wireless unit. Its wireless earnings nearly doubled, while landline earnings dropped 2.1%. The company’s net income was $3.46 billion (57 cents a share), compared to $2.85 billion (45 cents a share) a year ago, reports the Wall Street Journal.

The results include charges connected to acquisition expenses and landline unit layoffs. Revenues at the wireless business went up 18%, driven by additional subscribers and an increase in average revenue per subscriber. Wireless data services also saw rapid growth, going up 57% to reach 22% of the company’s wireless service revenue.

Consumers wait in front of a Little Rock, Ark., AT&T Wireless store, June 29, 2007, to be first in line to buy a new Apple iPhone. The iPhone has helped drive strong wireless business growth.
Consumers wait in front of a Little Rock, Ark., AT&T Wireless store, June 29, 2007, to be first in line to buy a new Apple iPhone. The iPhone has helped drive strong wireless business growth.   (AP Photo/Danny Johnston)
The AT&T logo is seen on one of its buildings in San Antonio, Monday, April 23, 2007.
The AT&T logo is seen on one of its buildings in San Antonio, Monday, April 23, 2007.   (AP Photo/Eric Gay)
An AT&T retail store is shown in New York's Times Square on Tuesday, March 18, 2008.
An AT&T retail store is shown in New York's Times Square on Tuesday, March 18, 2008.   (AP Photo/Mark Lennihan)
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