AT&T Reports Uptick in Revs, But U-Verse Subscribers Slow
Cable operators aren't the only ones eyeing slowing growth of video service businesses: Some of the upstart telco TV businesses have hit a bit of a lull.
AT&T only added 176,00 U-verse subscribers in the third quarter. That is down from the 236,000 additions in the third quarter of 2010, and less than 202,000 in the second quarter of this year.
U-Verse now has 3.6 million U.S. subscribers for its TV/video service. AT&T currently has access to more than 30 million U.S homes.
But overall, U-Verse's revenue continues to rise -- a 55% gain to $1.7 billion in the third quarter versus the same time period of a year ago. U-verse has helped lift up the average consumer monthly price for its "triple-play" group of services -- phone, video, and Internet -- rising nearly 6% to $170 a month.
AT&T wireless subscribers grew 2.1 million to reach 100.7 million. While the company added 504,000 U-verse High Speed Internet subscribers to reach a total of 4.6 million. Traditional phone service dropped 1.2 million recently to stand at 40.1 million by the end of September.
Total wireless revenue -- including equipment revenue -- gained 2.8% to $15.6 billion. Overall, for the third quarter, AT&T revenue slipped 0.3% to $31.5 billion, with net income down almost 70% to $3.6 billion.