There were no major surprises in AT&T's Q2 09 earnings as the telco reported that consolidated second quarter revenues of $30.7 billion were down by 0.4 percent year-over-year, but up sequentially. AT&T's net income was $3.2 billion, while diluted earnings per share totaled $0.54 and cash from operating activities totaled $7.9 billion.
Despite this slight revenue decline, AT&T saw increased momentum in its wireline business, as consumer broadband IP services (broadband data and U-Verse TV), business VPNs and VoIP services all saw growth. During the quarter, AT&T added 248,000 new U-Verse subscribers, a factor the telco attributes to the addition of new services such as U-Verse Total Home DVR, integrated voice and broadband service. Total video subscribers, including both its U-Verse and bundled satellite services, reached 3.8 million at the end of Q2 2009.
Another growth spot was consumer and business IP-based data services. The telco reported that total wireline IP data revenues, which were driven by U-Verse service expansion and business VPNS and VoIP, grew 5.2 percent to $6.6 billion. This growth was led by a 17 percent increase in IP-based service revenues.
However compelling AT&T's gains were in its wireline consumer and business segments, the telco continues to see negative trends in total landline connections, which were down 13.4 percent during the quarter.
- here's the official release
AT&T profit, revenue slip in Q1