New Wireless Subscribers Down Sharply at AT&T

New subscribers one-third of a year ago

By Peter Svensson
|  Tuesday, Apr 24, 2012  |  Updated 9:34 AM CDT
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New Wireless Subscribers Down Sharply at AT&T

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AT&T is gaining new wireless subscribers at the lowest rate in eight years, as the number of people joining the network through resellers and non-phone devices like the Kindle is dropping sharply.

The largest telecommunications company in the U.S. says it gained a net total of 726,000 wireless subscribers in the first quarter, less than a third of the figure in the same period last year.

The Dallas company's net income from January to March was $3.6 billion, or 60 cents per share, up 5 percent from $3.4 billion, or 57 cents per share, a year earlier.

For the latest quarter, analysts polled by FactSet were on average expecting earnings of 57 cents per share.

Revenue was $31.8 billion, up 2 percent from a year earlier. It matched analyst expectations.

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