AT&T 1Q 2008 revenue, net income, profits way up
By Will Park on Tuesday, April 22nd, 2008 at 12:08 PM PST In AT&T, Announcements, Financial/Corporate News
Wait, aren’t we supposed to be in a recession? In what could be seen as proof that wireless service and mobile phones are now considered an essential part of daily life, AT&T (NYSE: T), the largest telecom in the US, has posted impressive gains in its 1Q 2008 financial statement.
Coming off a fresh wireless subscriber infusion of 1.3 million customers, AT&T has posted a 22% increase in profits from the previous year’s quarter. Net income hit $3.46 billion, an increase from $2.85 billion, and revenue saw a 6% increase from $28.97 billion to $30.74 billion.
AT&T saw wireless sales increase 18% to $11.8 billion. As the leading wireless provider in the US, AT&T has cemented their lead by ending the quarter with 71.4 million mobile customers.
If there’s a recession going on, it definitely hasn’t hit vital wireless service or mobile phone sales.
[Via: MarketWatch]
Of course the profit wil be soaring.
Att charges both for incoming and out going text messaging. That is like charging twice for text messaging.
Similiar to how ATM’s used to charge for withdrawing money