Today, AT&T announced its fourth quarter earnings report. Although the company had a 2.1 million net gain in fourth-quarter wireless subscribers, bringing its wireless subscriptions to 77 million, AT&T is reporting a net income loss of 23 percent since the same quarter last year. Fourth quarter results show a net income of $2.4 billion, or 41 cents per share, while the company reported a net income of $3.1 billion, or 51 cents per share in the same period last year. AT&T's adjusted earnings of 64 cents per share fell just shy of analyst predictions of 65 cents per share.
Despite the economic slowdown, AT&T experienced revenue growth of 2.4 percent, which met analyst expectations. The company more than doubled its wireless data revenues, fueled by rapid adoption of integrated devices and increased usage of wireless Internet access and messaging. A portion of that increase is owed to 1.9 million fourth-quarter Apple iPhone 3G activations, Apple's smartphone that includes wireless data connectivity.
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