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AT&T's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Let's now take a look at first quarter operational highlights on Slide 6. No matter which financial metric you focus on, you see solid results, bigger [ph] revenue thanks to a strong wireless quarter and the best revenue growth in wireline consumer in years. Operating income margins were up across-the-board, consolidated, wireless and wireline. And we grew earnings in the mid-single-digit range. We also continue to see impressive strength in all our growth drivers. Data growth, driven by the mobile Internet, leads the way. Ralph will give you the highlights in a moment, but let me give you a few of the headlines.

We continue to set the pace in smartphone sales. We actually sold slightly more smartphones this quarter than a year ago, but our service margins were up significantly. We also had another record first quarter with branded computing sales, thanks to tablets and tethering plans. All this helped drive strong mobile data growth of almost 20%, or more than $1 billion higher than the first quarter a year ago. Throw in our lowest postpaid churn in 7 quarters, and you can see the strength of this business and of our mobile Internet strategy. We also continue to be pleased with the extensive transformation of our wireline business. U-verse continues to make impressive gains. Not only did we hit 4 million TV subscribers, but we also had strong U-verse broadband sales. Year-over-year, business wireline revenue trends also continue to improve, thanks to another strong quarter from strategic business services. So you're seeing strong execution in every part of the business and a very solid start to the year.

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