When Apple announced that they had sold 5.2 million iPhones in Q3 2009, it was quite obvious that it would have a positive impact on AT&T’s results which is the exclusive carrier for Apple’s iPhone in the US.
AT&T has just announced that it activated a record breaking 2.4 million new iPhones during the second quarter ending June 30, 2009 which was one of the highlights of their results along with strong wireless growth.
More than 2.4 million iPhone activations in the second quarter, reflecting a record-setting iPhone 3GS launch.
AT&T Inc. (NYSE:T) today reported second-quarter results highlighted by strong wireless growth, including a substantial step up in retail postpaid subscriber additions and continued robust growth in wireless data revenues. Results also included double-digit growth in IP-based revenues from AT&T U-verse services and advanced business offerings.
Progress in these areas and solid cost management largely offset economic pressures and increased volume-based acquisition costs associated with the company’s highly successful iPhone 3GS launch to drive financial results that were generally in line with the first quarter of 2009.
Though AT&T has mentioned an increase in acquisition cost associated with Apple’s iPhone which impacted company’s earnings and margins, its net positive for AT&T as they make roughly $95 a month from each iPhone customer vs. about only $59 from the average non-iPhone customer i.e. 1.6 times from an iPhone customer.
Let’s hope AT&T enables the MMS and Tethering feature that’s available in iPhone OS 3.0 but currently disabled in the US (and some other countries) in this quarter to bring some cheer to AT&T’s iPhone customers.
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