AT&T today reported that their Q4 2008 revenue increased by 2.4 percent to $31.1 billion. But their profits were down by 23.6 percent to $2.4 billion from $3.14 billion, for same period a year ago.
Wireless was once again the biggest growth engine for the company. Wireless service revenue grew 13.2 percent to reach $12.9 billion in Q4 2008. AT&T added 2.1 million new wireless subscribers bring the total number of subscribers to 77 million. AT&T sold 1.9 million new iPhones for this holiday season.
AT&T says it now has 4.3 million iPhone 3G users, which has increased its data revenue for wireless business by 51.2 percent compared to fourth quarter of 2007. This is the 12th consecutive quarter that data revenue grew more than 50 percent. Now data revenue represents 26.6 percent of total wireless revenue.
The other area where AT&T saw strong growth was U-Verse service. AT&T added 264,000 new customers bringing the total number of customers to more than 1 million. AT&T will be hosting a conference call at 10 AM EST, where we should get more detailed information about Q4 results.