AT&T Barely Meets Wall Street Expectations, Reports Increase in Net Income

The wireless industry might witness a sluggish growth as the carriers are putting their best efforts to lure new subscribers specifically those who are willing to pay for lucrative data plans for their smart phones.

On Thursday, during AT&T's quarterly earnings-report, this new trend was reflected. It also showed that the company's result is barely meeting the expectations of the Wall Street. During the third quarter that ended on 20th September AT&T succeeded in activating only 2.7 million iPhones and this figure is the lowest in the past 18 months.

Even though this figure includes 319,000 wireless customers, still this number is less than half of the figure that this company achieved at the same period last year. Another interesting fact that was unveiled is that AT&T still relies heavily on revenue generated by mobile data.

In other words, the company is shifting from landlines business to wireless centric business. Based on a statement by the company, it was revealed that 75 percent of AT&T's total revenue comes from one wireless data and second landlines data revenue.

Rick Franklin analyst at Edward Jones which is a financial services firm said, "This is a country that, for all purposes, is 100 percent saturated with wireless customers". "Given that there is any growth at all with AT&T is an amazing feat", he added, as reported by The New York Times.