AT&T’s first quarter revenue and profits were both up, fueled by growth in broadband, wireless and business services.
The company grew its total high-speed Internet connections – including DSL, U-verse and satellite broadband services – by 491,000. The company ended the quarter with 14.6 million consumer and business high-speed Internet connections, up 1.8 million compared with the first quarter of 2007.
AT&T reported an accelerated ramp of U-verse TV, with a net subscriber gain of 148,000, to reach a total of 379,000 U-verse TV subscribers. The company said it still expects to exceed one million U-verse subscribers by the end of 2008.
Toss in bundled satellite television service and AT&T’s total TV subscribers grew by 264,000 in the quarter, to reach 2.6 million.
AT&T said that improved growth in broadband and advanced TV services offset losses in traditional voice access lines, resulting in stable revenues.
As for wireless, AT&T added 1.3 million accounts, for a total of 71.3 million. It reported that wireless data revenues grew 57.3 percent compared with last year, to reach $2.3 billion.
Services contributing to that result include Internet access, e-mail, messaging, data access and media bundles. Data now represents 21.5 percent of AT&T’s total wireless service revenues, up from 16 percent in the first quarter of 2007 and 10.9 percent in the first quarter of 2006, AT&T said.
The company tallied $30.7 billion in consolidated revenues, up 6.1 percent from the like period a year ago. Its Q1 net was $3.5 billion, up 21.5 percent compared with $2.8 billion in the year-ago first quarter.
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