iPhone Boosts AT&T

Sales of the iPhone have boosted AT&T's revenues to $30.7 billion for the second quarter, up 54% from the same time last year.

AT&T must be very glad they signed up to sell the iPhone. They’ve reported their second quarter revenues as $30.7 billion, which is a massive 54% increase over last year, and the company is happy to credit the iPhone for the success. AT&T is the exclusive iPhone network carrier in the US.

AT&T’s wireless unit reported a 52% increase, and initial sales of the new 3G iPhone have been twice those of the original.

AT&T’s chairman and chief executive Randall Stephenson said:

"In the days following our exclusive U.S. launch of this new device, customer response has been everything we had anticipated and more. This strengthens our wireless business, and it reinforces our positive view of the opportunities ahead for AT&T and the industry."