Customer churn meanwhile has dropped to 1.01 percent for postpaid customers;
1.29 percent churn overall.
AT&T saw a 10.3 percent increase in wireless service revenues, with postpaid subscriber average monthly revenues per subscriber up 3.4 percent.
AT&T also saw 27.2 percent growth in wireless data revenues, year over year.
If there is anything to watch, it is that AT&T is activating fewer new iPhone customers that are new to AT&T. The company is getting a lower mix of iPhone subscribers from rival carriers than it has in the past.
During the second quarter, about 27 percent of its iPhone activations were customers new to AT&T. In the latter quarters of 2009, about 40 percent of iPhone activations were of devices used by customers new to AT&T.
This suggests either that the potential universe of users who want an iPhone is shrinking, either because other reasonably comparable models are available from other carriers, because interest in Android devices is growing, or because smartphone demand overall is shifting in some way to lower-priced devices.
The iPhone exclusive has been a smash hit for AT&T, without any doubt. The danger is the obvious risk that reliance on any single product or customer always has for any firm. When revenue is driven by a single customer, or a few customers, or a single product, a shift in demand can lead to rapid distress.
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