AT&T Inc. (T) Reports $32.2 Billion In Q3 Revenues, Adds 1M New Subscribers
AT&T Inc. (NYSE:T) has reported their Q3 2013 revenues of $32.2 billion, which is a 2.2% increase over the same period last year. Analysts were expecting 65 cents a share on revenues of $32.19 billion, but AT&T beat the EPS expectations by $0.01. AT&T hit overall profits of $3.8 billion.
AT&T also added one million new subscribers. Of the 363,000 new new postpaid subscribers, only 178,000 signed on with new smartphones. AT&T said that smartphones accounts for 89% of their postpaid revenues, which is a record for them.
“We’re setting the standard for 4G LTE speeds and network reliability. Our fiber and U-verse expansion projects are ahead of schedule bringing high-speed broadband to millions more customers,” said Randall Stephenson, AT&T Inc. (NYSE:T) chairman and CEO. “With these initiatives, we’re seeing excellent growth across our major platforms — mobility, U-verse and strategic business services.”
AT&T is now covering nearly 250 million POPs in over 435 markets as part of the Project VIP related LTE deployment. AT&T’s LTE network is expected to cover around 270 million POPs by the end of the year in 2013.
AT&T also said that total U-verse revenues grew 28.1 percent year-over-year and were up 4.4% compared to the second quarter of 2013. “U-verse also had its first-ever billion-dollar revenue month,” said AT&T in a statement. U-verse now has 10 million subscribers.