AT&T Inc. (NYSE: T) reported this morning that its second-quarter profit came in at $3.9 billion, or $0.66 per share. That is up from from $3.59 billion, or $0.60 per share, in the same period of last year. Revenue increased to $31.58 billion from $31.50 billion a year ago.
While earnings topped the consensus estimates, revenues fell short. Analysts were looking for $31.7 billion.
The nation’s biggest phone company attributed better-than-expected bottom line results to record wireless margins and solid data growth.
“We executed well across the business and posted another strong quarter with growing revenues, expanding margins and double-digit earnings growth,” said AT&T CEO Randall Stephenson in a statement.
The company also said it activated 3.7 million Apple (NASDAQ: AAPL) iPhones during the quarter, with 22% new to AT&T. However, that was down from 4.3 million iPhones during the first quarter. Rival Verizon Communications (NYSE: VZ) activated 2.7 million iPhones during its own second quarter. Verizon reported a 12% rise in profit in last week’s quarterly report.
AT&T is up about 0.2% to $35.46 in premarket trading, in a 52-week range of $27.29 to $36.21. Nike has inched up about 0.1% to $44.42 in premarket trading. Its 52-week range is $32.28 to $46.41.
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