Despite iPhone, AT&T Profit Down

Despite the massive popularity of Apple’s iPhone, AT&T, the iPhone’s exclusive carrier, posted a 1.2 percent drop in profits as revenue from traditional landlines fell faster than the company’s cost-cutting measures could go into effect. However, AT&T added a record number of iPhones into its network during this quarter.
In all, AT&T’s wireless subscriber base grew by 2 million during the third quarter to 81.6 million, including 3.2 million new activations of the Apple iPhone. This figure benefited from a price cut of the older versions of the iPhone and the June release of the upgraded iPhone 3G S, which boasts …read more