iPhone Boosts AT&T Q2 Results

The iPhone again helped propel sales at AT&T as revenue increased 2.2% to $31.5 billion in the second quarter compared to a year ago. The telecom giant added 1.1 million customers during the quarter including 331,000 new contract customers. It activated 3.6 million iPhones in the quarter, driven in part by sales of the iPhone 4. Apple on Tuesday reported selling 20 million iPhones in its most recent quarter, up 142% from a year ago.

AT&T also said it had its best quarter ever for smartphone sales overall, selling 5.6 million. Besides the iPhone, sales of Android and other smartphones doubled in the quarter. Wireless data revenue grew 23.4%% to $5.4 billion, up $1 billion from a year ago, while total wireless revenues, including equipment sales, were up 9.5% to $15.6 billion. AT&T's profit dipped slightly, at 60 cents a share in the quarter compared to 67 cents a year ago. Read more here.

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