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Wednesday, July 23, 2008
Summary Box: AT&T profit up 30 pct
By The Associated Press
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KEY RESULTS: Investors expected the weak economy to finally catch up to AT&T, and it did, but not as badly as many feared. Profit was up 30 percent, even though more customers disconnected their landlines.

ANALYST TAKE: The results matched or exceeded expectations by several measures, including profit margins. The wireless arm continued to do well, adding 1.3 million subscribers even without the new iPhone, which launched after the quarter ended. But broadband sales were weak.

IPHONE FEVER: AT&T said sales of the iPhone 3G, for which it is the exclusive U.S. carrier, were nearly double those of the first iPhone model in the first 12 days.
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