AT&T's Q2 earnings report misses expectations despite rise in revenue

AT&T announced that its earnings declined 7.2 percent, while its revenue was up 1.6 percent from a year ago. The announcement came as part of the company's second quarter earnings report, which it released yesterday, a day after Verizon posted strong profits in the second quarter.

The telecommunications giant posted a profit of $3.55 billion, or 68 cents a share, compared to $3.82 billion, or 71 cents a share, in the year-ago period. On an adjusted basis, the company earned 62 cents a share, missing analysts’ expectations by a penny. The revenue figure, which stood at $32.6 billion, also missed Wall Street’s consensus estimate of $33.22 billion.

The company said it added more than 1 million postpaid subscribers -- those who sign a long-term contract or pay toward the end of the month. This is the largest for the company in the last five years, bringing the total to nearly 117 million.

Out of these newly added postpaid subscribers, around 707,000 were smartphone customers, while 366,000 were tablet customers. Total wireless net additions were 634,000 amid the loss of 405,000 prepaid customers.

Speaking about the broadband and television side of the business, the company said it added 488,000 net new U-verse Internet customers and 190,000 net new U-Verse TV customers in the last quarter.

The company also announced that its proposed acquisition of DirecTV is steadily progressing. AT&T's CFO John Stephens said in a conference call that the deal had received approval from regulators in Brazil and several U.S. states.

Next Sony to settle PlayStation Network class action suit for $15 million in goods and servicesPrev Samsung to host annual developers conference at Moscone West this November

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AT&T's Q2 earnings report misses expectations despite rise in revenue

AT&T announced that its earnings declined 7.2 percent, while its revenue was up 1.6 percent from a year ago. The announcement came as part of the company's second quarter earnings report, which it released yesterday, a day after Verizon posted strong profits in the second quarter.

The telecommunications giant posted a profit of $3.55 billion, or 68 cents a share, compared to $3.82 billion, or 71 cents a share, in the year-ago period. On an adjusted basis, the company earned 62 cents a share, missing analysts’ expectations by a penny. The revenue figure, which stood at $32.6 billion, also missed Wall Street’s consensus estimate of $33.22 billion.

The company said it added more than 1 million postpaid subscribers -- those who sign a long-term contract or pay toward the end of the month. This is the largest for the company in the last five years, bringing the total to nearly 117 million.

Out of these newly added postpaid subscribers, around 707,000 were smartphone customers, while 366,000 were tablet customers. Total wireless net additions were 634,000 amid the loss of 405,000 prepaid customers.

Speaking about the broadband and television side of the business, the company said it added 488,000 net new U-verse Internet customers and 190,000 net new U-Verse TV customers in the last quarter.

The company also announced that its proposed acquisition of DirecTV is steadily progressing. AT&T's CFO John Stephens said in a conference call that the deal had received approval from regulators in Brazil and several U.S. states.

Next Sony to settle PlayStation Network class action suit for $15 million in goods and servicesPrev Samsung to host annual developers conference at Moscone West this November

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Apple reports quarterly earnings led by solid iPhone sales

Apple on Tuesday posted fiscal third quarter results led by solid iPhone sales. The Cupertino-based company brought in $37.4 billion in revenues, up six percent compared to the year-ago quarter. Profit checked in at $7.75 billion, up from the $6.9 billion during the same period in 2013.

Tim Cook and company sold 35.2 million iPhones during the quarter, a jump of 12.7 percent year-over-year although just shy of analysts' estimates. It's an impressive figure considering we're just a few months away from one of the most anticipated iPhone launches ever but it's worth pointing out that strong overseas iPhone sales certainly played a part in the quarterly figure.

While iPhone sales were solid, Apple once again turned in disappointing results as it relates to the iPad. Sales were down 9.2 percent at just 13.3 million versus the 14.6 million units moved last year. iPad sales were down 16 percent during the previous quarter.

Apple is clearly having a hard time moving its tablet in the wake of cheaper competition and large-screen smartphones.

Apple shares are up 0.83 percent in after hours trading as of writing, currently priced at $94.72. That may seem low if you kept up with Apple's ridiculously high stock prices not all that long ago but you have to remember, the company did a seven-for-one stock split back in June.

Looking ahead, Apple anticipates revenues of $37 billion to $40 billion during the next quarter.

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