AT&T posted its quarterly results yesterday, revealing that profits rose by 17%, largely in thanks to the DirecTV acquisition.
The telecommunications provider brought in some impressive earnings as well, saying that they had $40.5 billion in consolidated revenues for just the first quarter. These revenues are up 24% in comparison to the same period last year.
Focusing more on AT&T’s wireless side of things, the wireless service revenue came in at a whopping $14.8 billion.
As far as adding customers go, AT&T said they added 2.3 million wireless customers in Q1. 1.8 million of those is from the US with another 529,000 coming from Mexico.
In contrast, T-Mobile was able to add 2,2 million wireless customers in the last quarter.
The company also noted that it had an increase of 712,000 for branded phone net adds (pospaid and prepaid).
Overall, things are looking pretty impressive for AT&T, but the video side of things is lacking. The wireless carrier reports that it had 54,000 U.S. subscribers drop from video subscriptions, despite the DirecTV acquisition. AT&T did say it added 328,000 DirecTV connections, but lost 382,000 U-Verse connections, so it doesn’t really even out there.
Despite this unfortunate drop, AT&T is expecting to add even more video connection throughout the year, according to AT&T Chief Financial Officer John Stephens.
All in all, AT&T seems to have had a successful first quarter and is looking forward to an even better second quarter.
source: AT&T
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