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AT&T Quarterly Profit Jumps 26%

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USA based AT&T has reported that its second quarter profits jumped by 25.9% to USD4 billion. Excluding a one off gain from the exchange of Telmex Internacional stock for shares of Am rica M vil, the profits would have been up by 13%.

Consolidated revenues totaled $30.8 billion, up $194 million, or 0.6 percent, versus the year-earlier quarter. Second-quarter 2010 cash from operating activities totaled $8.6 billion; capital expenditures totaled $4.9 billion, including a nearly 60-percent increase in wireless-related capital investment versus the year-earlier quarter.

Compared with results for the first half of 2009, year to date through the second quarter, cash from operating activities totaled $15.8 billion versus $15.8 billion; capital expenditures totaled $8.2 billion versus $7.4 billion; and free cash flow totaled $7.6 billion versus $8.4 billion.

The company recorded 3.2 million iPhone activations in second quarter, a company record. There was also a 2.9 million net increase in 3G postpaid integrated devices on AT&T's wireless network to reach 29.7 million.

The company ended the quarter with 90.1 million subscribers in total.

Outlook

Due to improved revenue trends and strong execution, AT&T has updated its earnings outlook for full-year 2010. The company now expects strong earnings growth for full-year 2010, improved consolidated operating income margins and free cash flow above 2008 levels.

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Tags: at&t  wireless