AT&T Adds More Wireless, Broadband Subscribers

AT&T added nearly 300,000 postpaid wireless subscribers in the first quarter, with a burst of 365,000 new tablet subscriptions leading net additions of connected devices totaling 431,000. With more than half the U.S. adult population already owning smartphones — and 90% owning a cell phone of some kind — AT&T and its chief rival, Verizon Communications Inc. (NYSE: VZ), need to keep finding ways to boost subscriber numbers.

AT&T reiterated its guidance for revenue growth of 2% in 2013. The company also expects second-quarter wireless EBITDA margins to be comparable to the first quarter’s 43.2%.

A somewhat less-rosy outlook is related the company’s consolidated margins, which AT&T now expects to be down year-over-year. The company said this is due to “strong consolidated customer additions and investments in new growth opportunities.” In other words, it is getting more costly to keep adding subscribers.

AT&T’s shares are inactive in the premarket this morning, having closed last night at $35.81 in a 52-week range of $32.71 to $39.00.