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April 26, 2009

AT&T Q1 revenue slips to $30.6 billion

The company said there was a net gain of 2.1 million wireless subscribers

By CBR Staff Writer

AT&T has reported a 9% decline in net income to $3.2 billion for the first quarter 2009, compared to $3.51 billion in the year-ago quarter, on revenue down 1% at $30.57 billion.

Operating income fell 4% to $5.73 billion, while diluted EPS fell 7% to $0.53. The company said wireless revenue grew 9% to $12.86 billion, while wireline revenue fell 5.4% to $16.67 billion. Advertising solution revenue fell 10.4% to $1.26 billion, and revenue from others fell 20% to $437m.

The company said there was a net gain of 2.1 million wireless subscribers, and a 39% increase in wireless data revenue to $3.2 billion. It said wireline IP data revenue increased 16% driven by rapid expansion in AT&T U-verse services and growth in VPNs and managed internet services.

Randall Stephenson, chairman and chief executive at AT&T, said: These results demonstrate focused and disciplined execution as we work through a tough economy. Our cost-improvement initiatives are on track, earnings and cash flow were solid, and balance sheet and credit metrics strong. We continue to invest in key growth areas like mobile broadband, more bandwidth to the home through our all-IP AT&T U-verse platform, and advanced global business solutions delivered over AT&T’s premier internet backbone network.

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