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News
Forbes: AT&T Getting Lift From iPhone
Monday, October 22nd, 2007 at 4:00 PM - by John Martellaro
AT&T announced its third quarter results on Tuesday. The company reported a 41.5 percent rise in its 3Q profits, to US$3.1B compared to $2.2B a year ago and added 2 million subscribers. Demand for AT&T services is getting a lift from the iPhone, according to Forbes on Tuesday.
"AT&T Inc. today posted strong third-quarter results and delivered its tenth consecutive quarter of double-digit growth in adjusted earnings per share. Results included an increase in wireless subscribers of 2.0 million, further advances in enterprise business trends and accelerated expansion of AT&T�s next-generation TV service," according to AT&T on Tuesday.
Several factors contributed to the company’s success. First, they are benefitting from a smooth acquisition of rival BellSouth. In addition, Andrew Farrell reported for Forbes that, "Demand for AT&T’s wireless services is getting a lift from its role as the exclusive provider of the iPhone. The Apple cell phone has been a hot item this year. Almost 1.4 million iPhones have been sold since its release in June."
AT&T is the largest wireless network with 65.7 million subscribers.
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