AT&T gains few contract subscribers in 4Q

January 27, 2011 5:53:14 AM PST
AT&T says it signed up a net of just 400,000 customers on contract-based wireless plans in the fourth quarter, the lowest number in at least five years. The result demonstrated that even though sales of the iPhone were strong, it's lost much of its power to attract customers from other carriers.

Dallas-based AT&T Inc. on Thursday posted net income of $1.09 billion, or 18 cents per share, for the October to December period. That was down 60 percent from $2.8 billion, or 46 cents per share, in the same period of 2009. Excluding items, earnings were 55 cents per share, a penny above the average estimate of analysts polled by FactSet.

Revenue was $31.4 billion, up 2.1 percent from a year ago. It matched analyst expectations.