3 Telecom Stocks Seeing Action: AT&T’s Solid Quarter, Verizon Grants Droid Exclusivity, and Sprint Goes Underground
AT&T (NYSE:T): Second-quarter earnings per share of 67 cents missed expectations by 1 cent as revenue of $32.1 billion beat by $0.29 billion. The company added 551,000 wireless postpaid subscribers, of which 398,000 were from tablets, up from 296,000 in the first quarter. AT&T also added 11,000 prepaid subscribers, up from the 184,000 it lost in the first quarter. Wireless service revenue grew 4.1 percent, riding on the 19.8 percent increase in data services. In total, 6.8 million smartphones were sold, up from 6 million in the first quarter.