AT&T’s wireless service revenue increased 4.6 per cent year-on-year to $14.5 billion in Q3, as company executives pointed to growth in contract subscribers and the potential to upsell to higher-value plans moving forward.
The operator’s wireless division recorded net additions of 928,000 post-paid subscribers in Q3 taking its base to 66.4 million. In the equivalent quarter of 2020 it added 645,000 to its post-paid base, which then stood at 63.5 million.
AT&T CEO John Stankey hailed the progress as “our best post-paid phone net additions quarter in more than ten years”.
During the company’s earnings call, AT&T Communications CEO Jeffery McElfresh added there remained a “large opportunity” to upsell mobile users to higher-value and unlimited tariffs.
“We still have large portions of our subscriber base that we have not migrated into those rate plans.”
“We’re letting the customers choose when it’s time for them to take advantage of an offer or to move into a new rate plan, and we’ll continue to execute that. That’s got room to run for several quarters.”
Financials
Across the whole company, AT&T Q3 revenue was down 5.7 per cent to $39.9 billion on divestment of various businesses and separation of its video unit [1] earlier this year. It also noted a decline in fixed enterprise earnings.
Net income was $5.9 billion, up from $2.8 billion, largely attributed to lower operating expenses and higher operating income.
[1] https://www.mobileworldlive.com/featured-content/top-three/att-offloads-properties
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