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AT&T Boosts Q2 Profit On Falling Phone Sales

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NEW YORK (AP) – AT&T is seeing declining smartphone sales, leading to the best profitability ever in its wireless arm as it saves on phone subsidies.

The largest telecommunications company in the U.S. says it activated 5.1 million smartphones in its latest quarter, down from 5.5 million in the same period a year ago.

That helped boost the Dallas-based company’s net income rise to $3.9 billion, or 66 cents per share, for the April to June period. That’s up from $3.6 billion, or 60 cents per share, a year earlier.

For the latest quarter, analysts expected earnings of 63 cents per share.

Revenue edged up 0.3 percent to $31.6 billion. Analysts were expecting $31.7 billion. Excluding the sale of its phone-books business, revenue rose 2 percent.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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