AT&T hits half a million U-verse customers

July 24, 2008 - US telecoms giant AT&T reached 549,000 subscribers for its "U-verse" IPTV service at the end of the second quarter of this year, an increase of 170,000 since the end of March.

The telco also reports that it is on track to reach 1mn U-verse subscribers by the end of this year. Continued strong growth in its wireless operations, helped by carriage of the iPhone, offset the loss of almost 1mn fixed-line residential customers during the period.

"Earnings growth continues to be solid, our wireless momentum is strong, our [important] growth and cost-reduction initiatives are on track and we continue to return substantial value to shareowners," said Randall Stephenson, CEO of AT&T.

Net income for the second quarter of this year reached US$3.77bn, up from US$2.9bn in the same period of 2007, while total sales rose 4.7% to reach US$30.9bn.