AT&T Wireless (AWE) exceeded the Street's revenue projections in its second quarter, turning in $3.38 billion to best consensus estimates of $3.2 billion. The all-important EBITDA number rose to $765 million from the first quarter's $717 million.
The wireless giant, which was spun off as a separate company earlier this month, added 668,000 subscribers last quarter for a total customer base of 16.4 million. For comparison, in the first quarter, AT&T Wireless added 585,000 customers.
AT&T Wireless made slight progress in customer loss, knocking its churn figure down from 3.0% to 2.9% sequentially, putting it back to fourth-quarter 2000 levels. AT&T Wireless managed to get 2.6% more out of its customers per month, with its average revenue-per-user figure climbing to $63.80 from the first quarter's $62.20. However, it spent $5 more to gain each customer from the first quarter ($327) to the second ($332).