Apple Thoughts: AT&T Earnings Fall From Last Year

"AT&T's second quarter earnings beat Wall Street estimates, but still fell 15 percent year over year, as the highly successful launch of Apple's iPhone 3GS -- a phone subsidized by AT&T -- affected the company's bottom line."

Coming in on the heels of Apple's record setting quarter, AT&T still beat the estimates but didn't have quite the numbers that Apple did. While the quarterly earnings numbers fell 15%, the customer base increased dramatically, adding 6.7 million customers from last year to boost their total customer base to 79.6 million customers. Still, their net income was $3.2 billion USD down from $3.8 billion USD the prior year and blamed on the dreaded subsidy associated with the iPhone.