AT&T Adds Quarter Million U-verse Subscribers23 Oct, 2013 By: Chris Tribbey
What cord cutting?
While announcing its third-quarter 2013 financial results Oct. 23, AT&T announced it had added a net 265,000 subscribers to its U-verse TV offering, the second-highest net add in a quarter ever and best quarter for U-verse in five years.
It was the first $1 billion revenue month for U-verse (a category that also includes high-speed Internet) ever, with quarterly revenues up 28.1% year-over-year.
AT&T said its 5.3 million U-verse subscribers gives it the most pay-TV subscribers among all telecommunications companies.
For the quarter, AT&T reported revenue of $32.2 billion, up 2.2% year-over-year, and a profit of $3.8 billion, up from $3.6 billion year-over-year.
“Our fiber and U-verse expansion projects are ahead of schedule bringing high-speed broadband to millions more customers,” said Randall Stephenson, AT&T chairman and CEO. “With these initiatives, we’re seeing excellent growth across our major platforms — mobility, U-verse and strategic business services.”