AT&T Q3 09 wireless up, landlines down again

AT&T's third quarter 2009 earnings present an all too familiar tale in the wireline industry. Third quarter revenues totaled $30.9 billion, net income attributable to AT&T was $3.2 billion, diluted earnings per share totaled $0.54 and cash from operating activities totaled $9.7 billion. Contributing to the loss was, once again, the inevitable decrease in voice and legacy data services, a trend AT&T is offsetting by ongoing growth of its wireless and IP-based wireline data and video services.

AT&T's consolidated revenues, however, increased 0.4 percent--the second quarter where it saw a sequential revenue increase. The ILEC says that consolidated revenues for 2009 will fall beneath 2008 results.

That's not to say that AT&T's wireline business is dead by any means. The service provider did see an uptick in IP-based wireline residential U-Verse and business services, which collectively grew 18.7 percent.

During the quarter, AT&T reported that it added 240,000 new U-Verse TV customers, which was an increase from the 232,000 it brought on during Q3 08. With this increase, AT&T now provides U-Verse TV to 1.8 million subscribers many of which also purchase broadband and voice.

Driven by new services such as Ethernet, Virtual Private Networks (VPNs), hosting and application services, AT&T saw business services grow 16.6 percent.

For more:
- see the earnings release here
- Morning Dallas News has this article

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