AT&T reported a reasonably good set of Q2 2015 numbers, with earnings beating consensus while revenues were roughly in line with street estimates. On the wireless side, revenues grew by about 2.1% year-over-year, driven by higher equipment revenues and stabilizing service revenues. However, the crucial postpaid net add metric fell sharply (410k vs 1.026 million a year ago), while churn numbers also edged higher. Wireline revenues continued to fall (-1% adjusted for disposals), although the growth in U-Verse IP based services helped to soften the decline. Overall, consolidated revenues stood at $33.0 billion, up 2.2% year-over-year, adjusted for divestment of the Connecticut wireline operations, while operating income grew to $5.7 billion from about $5.6 billion in the year ago quarter.
|