Business

AT&T sees 3Q slowdown in iPhone activations

Posted October 19, 2011 11:00 pm

Associated Press

NEW YORK — AT&T saw a decline in the number of iPhones activated in its latest quarter, as buyers waited for the new model.

The country's largest telecommunications company Thursday said it activated 2.7 million iPhones in the third quarter, the lowest number in a year and a half. A new iPhone was launched just after the end of the quarter.

Net income was $3.62 billion, or 61 cents per share, for the July to September period. That's down from $12.3 billion, or $2.07 per share, a year ago, which was boosted by the sale of a subsidiary and a tax settlement.

The latest earnings matched the average forecast of analysts polled by FactSet.

AT&T Inc. says its revenue slipped 0.3 percent to $31.5 billion. That was slightly below analysts' expectations of $31.6 billion.

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