AT&T released its third quarter results The other day, the company delivered some stellar numbers, including a net gain of 468,000 postpaid phone users. This category is the reference because postpaid subscribers do not often change operator. The company said postpaid phone churn was at an all-time low of 0.79%. It also reported that average revenue per user (ARPU), at $55.99, was up 0.6% year over year, driven in part by customers switching to more expensive unlimited plans. thanks to
iPhone promotions.
During the conference call following the earnings release, AT&T CEO John Stankey said (via
MotleyFool) that the carrier’s iPhone 15 pre-orders were the largest the company has seen in years. Stankey said: “Our results show that our best deal for all approach continues to resonate with customers. For example, in September we saw the largest iPhone pre-orders we’ve had in many years, despite competing promotions with higher subsidies allowing for price drops. value of device exchanges.
AT&T released its third quarter results and said iPhone pre-orders were the best in years
The executive also said: “For example, the vast majority of people receiving our iPhone promotions sign up for our best-value plans, even though this is not a promotion requirement. In fact, our most profitable unlimited plan is our fastest growing. Additionally, our network has never been greater in size and quality as we continue to improve North America’s largest wireless network and expand the nation’s most reliable 5G network.
AT&T says its mid-range 5G network now covers more than 190 million people and will reach 200 million before the end of the year. Mobility revenue increased 2% year-over-year to $20.7 billion on the back of a 3.7% increase in services revenue to $15.9 billion. Equipment revenue decreased 3.2% to $4.8 billion, due to a “decline in device volume.” Rolling EBITDA (earnings before interest, taxes, depreciation and amortization) reached a company record of $8.9 billion for the quarter, up 7.6% year over year.
The entire company reported consolidated revenue of $30.4 billion, up 1% annually in the third quarter. Earnings per share from continuing operations were 64 cents, compared to 68 cents per share reported in the same quarter last year.
