AT&T earnings fall, but 2.4 million iPhones are activated
A good news, bad news Q2 earnings report for AT&T (T). The bad news? AT&T's reported a 15 percent decline in Q2 earnings, due to a decline in wireless revenue, to 54 cents per share against a 51 cent First Call EPS estimate. AT&T had earned 63 cents per share in Q2 2009.
However, AT&T did activate 2.4 million Apple (AAPL) iPhones, the best-selling smart phone on the market, and the one with the most apps.
Meanwhile, Q2 revenue dipped 0.4 percent to $30.70 billion, in-line with a $30.66 billion First Call revenue estimate. Ma Bell (sort of) had posted revenue of $30.87 billion in Q2 2009. Shares of AT&T were up 71 cents to $25.55 in pre-market trading.