IPhone lifts AT&T, but exclusivity a question

AT&T Inc's (T.N) earnings beat expectations on the back of strong iPhone sales, but questions over how much longer it would remain the exclusive U.S. carrier for Apple Inc (AAPL.O) dampened investor enthusiasm.

AT&T activated 2.7 mln iPhones in the first quarter, with one-third of those for customers new to the carrier, it said. It added 1.9 million wireless subscribers overall, bringing its total to 87 million.

While the iPhone helped drive profits in the quarter, many analysts saw AT&T's dependency on the smartphone as a growing vulnerability, particularly since speculation has been rampant that Apple may eventually sell iPhones through AT&T rival Verizon Wireless.

Read Full Article from Reuters

- Posted: 2010-04-21 13:26:15

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