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AT&T Shrinks its Financial Loss As Revenues Barely Move
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USA based AT&T has posted fourth-quarter revenues that were essentially flat at US$32.6 billion, thanks to the twin impacts of the disposal of its advertising business and Superstorm Sandy.
The company also posted a net loss of US$3.9 billion, compared to a loss of US$6.7 billion a year ago. The company has taken a sizable pensions cost which pushed it back into a loss for the quarter.
Total wireless revenues, which include equipment sales, were up 5.7 percent year over year to $17.6 billion. Wireless data revenues increased by 14.7 percent from the year-earlier quarter to $6.8 billion. Data revenue growth was slowed somewhat by the growth of Mobile Share plans. Fourth-quarter wireless operating expenses totaled $15.1 billion, up 6.9 percent versus the year-earlier quarter, driven by record smartphone volumes, and wireless operating income was $2.6 billion, down 1.2 percent year over year.
AT&T posted a net increase in total wireless subscribers of 1.1 million in the fourth quarter to reach 107 million customers at the end of last year.
AT&T sold a record 10.2 million smartphones in the fourth quarter, and smartphones represented 86 percent of postpaid device sales and 89 percent of postpaid phone sales in the quarter.
At the end of last year, 69.6 percent, or 47.1 million, of AT&T's postpaid phone subscribers had smartphones.
In the quarter, the company activated a record 8.6 million iPhones, with 16 percent new to AT&T. The company also had its best-ever sales quarter for Android smartphones.
For the fourth quarter, postpaid churn was 1.19 percent, down when compared to 1.21 percent in the year-ago fourth quarter. Total churn was 1.42 percent versus 1.39 percent in the fourth quarter of 2011.
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