AT&T's third-quarter earnings were on target with estimates as the company activated a record 5.2 million iPhones amid a total of 8 million smartphones.
The company reported third-quarter earnings of $12.3 billion, or $2.08 a share, on revenue of $31.6 billion, up 2.8 percent from a year ago. Those earnings were inflated by one-time gains that included a tax settlement and the sale of Sterling Commerce to IBM. Strip out those gains and earnings were 55 cents a share, in line with Wall Street estimates. AT&T's revenue was better than the $31.2 billion expected.
Read more of "AT&T third quarter on target: 5.2 million iPhone activations" at ZDNet's Between the Lines.