AT&T's U-verse is wireline's lifeline in Q1, adds 218,000 subs

The little engine that could, U-verse, continued to support AT&T's (NYSE:T) wireline unit in the first quarter, seeing 218,000 new subscribers for the U-verse TV service to end the quarter with 3.2 million subs.

AT&T said first quarter revenues totaled $31.2 billion, up more than $700 million, or 2.3 percent, versus the year-earlier quarter. It was the fifth consecutive quarter to see year-over-year revenue increases.

The telco said first-quarter net income totaled $3.4 billion, or 57 cents per share, up from $2.5 billion, or 41 cents per share a year ago.

In what has been a pleasant surprise, wireline consumer revenues grew year-over-year for the third consecutive quarter, something the company attributed specifically to its U-verse services.

AT&T said IP data service helped bring in revenues from residential customers of $5.3 billion in the quarter, up slightly from a year ago. The company said U-verse subscribers-to the tune of 75 percent--continued to buy into triple- and quad-play packages. ARPU for U-verse triple-play customers was $168, up 14.3 percent year-over-year.

AT&T also reported that the high-speed Internet attach rate continued to run above 90 percent; nearly 60 percent of subscribers added the AT&T U-verse Voice service.

For more:
- see this release

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