AT&T Reports 2008 Q4 Results

AT&T has reported on their Q4 and full year results from 2008, and it looks like the company has fallen back in love with the Apple iPhone. AT&T is the exclusive carrier for the iPhone in the US, but you wouldn't have known it by looking at their website over the last several months. Things have changed now, and a banner for the iPhone is the first thing you see when you visit the AT&T Mobile website. Why? Take a look at these stats, and you'll quickly understand.

• 2.1 million Net Gain in Wireless Subscribers
• 4.3 million iPhone 3G devices activated in the second half of 2008, 1.9 million Apple iPhone 3G Activations
• ~40% percent of iPhone activations were new AT&T subscribers
• iPhone 3G continues to deliver high-value subscribers with significantly higher average monthly revenues per subscriber
• The churn rate - the percentage of customers who drop AT&T - among iPhone owners is significantly lower than the rest of the network, sharply reducing marketing costs

For the fourth quarter, AT&T's revenues totaled $31.1 billion, net income was $2.4 billion and cash from operating activities totaled $10.9 billion. Full-year revenues totaled $124.0 billion, net income was $12.9 billion and cash from operating activities totaled $33.7 billion. This of course is great news for Apple, AT&T, and their stock holders during the tough economic times.

[Source: CNN Money via Mac Rumors]