Summary Box: AT&T sells record number of iPhones

AP News
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Posted: Oct 21, 2010 1:58 PM
Summary Box: AT&T sells record number of iPhones

IPHONE PLUS: AT&T Inc. keeps benefiting from being the exclusive U.S. carrier for the iPhone. It added 5.2 million of them in the third quarter, a record.

IPHONE MINUS: AT&T subsidizes each new iPhone by hundreds of dollars, so the launch of a new iPhone in the summer actually holds back third-quarter earnings.

BOTTOM LINE: Excluding some large one-time gains, AT&T's third-quarter income was 55 cents a share, up just 3.8 percent from a year ago.