AT&T reported stronger-than-expected financial results for the first quarter, citing lower costs for smartphone upgrades and strong sales of wireless-data packages tied to Apple's iPad. The carrier reported a profit of $3.58 billion on sales of $31.8 billion, with wireless data accounting for 20% more in revenues than in the same period last year. The company sold 5.5 million smartphones during the quarter, most of them iPhones, and analysts say the company is on track to sell 1 million Windows-powered Lumia smartphones by the end of the second quarter.

Related Summaries