AT&T has announced its second-quarter results, posting revenues of $31.6 billion and income of $6.8 billion for the three month period. The company sold 5.1 million smartphones, fewer than the 5.5 million sold in Q1 -- but offset the drop by squeezing a margin of 30.3 percent from its existing customers. It's also counted on less than 1 percent of wireless churn, due to the "premier experience" available on the network. Overall it's now got 105.2 million subscribers, with 43 million of these using smartphones -- an increase of 1.3 million in the three months.

More than half of all smartphone activations (3.7 million) were iPhones, with 22 percent of those customers being new to the network. U-Verse now has nearly seven million subscribers and increased revenue by 38 percent to $2.3 billion, while Big Blue's enterprise arm also saw boosted growth. We've got the full breakdown for you after the jump, but in short: It's a very, very good time to be a cellphone network... unless you're Sprint, obviously.

Continue reading AT&T's Q2: 5.1 million smartphones sold helps make a $6.8 billion profit

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AT&T's Q2: 5.1 million smartphones sold helps make a $6.8 billion profit originally appeared on Engadget on Tue, 24 Jul 2012 07:39:00 EDT. Please see our terms for use of feeds.