AT&T has released its second quarter results, and while overall revenue only grew at a modest 0.6% from the previous quarter, overall wireless revenue grew at a much stronger 10.3%, and data revenue grew at 27.3%, with an very impressive $936 million increase from a year earlier.
Also impressive: AT&T activated a record 3.2 million iPhones during the quarter. Even more impressive? “Preorder sales of iPhone 4 were 10 times higher than the first day of preordering for iPhone 3GS .” 27% of the quarter’s iPhone activations went to new AT&T customers.
Total consolidated revenue was $30.8 billion up $194 million over the first quarter and $278 million, or 0.9 percent, year-on-year. AT&T also added 1.6 million organic net wireless subscribers – which was its best ever second quarter total – to get to 90.1 million wireless users. AT&T’s wireless churn rates were also at record lows (which means people were sticking with AT&T). Also, the carrier gained 2.9 million 3G subscribers, to get to a total of 29.7 million (certainly all those iPhone activations helped here).
Finally, AT&T provided some good news about U-verse, with 32.0% growth in IP data revenue and 209,000 new subscribers for a total of 2.5 million overall.
We’ll see how the markets react to all of this, but one thing is for sure – it’s good to be the only one with the iPhone.
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