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, 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]