AT&T Earnings Report: Big Wireless Subscriber Gains

AT&T's reporting Q3 revenues of $30.1 billion for a net income of $3.1 billion, nearly doubling the same quarter of last year's $15.6 billion in revenues for a net income of $2.2 billion (which was prior to its swallowing of BellSouth for total ownage of the Cingular venture). The real nugget of interest in the report, though, is that AT&T added 2 million wireless subscribers during the quarter—the highest Q3 increase in its history—for a total of 65.7 million subscribers. The natural assumption is to chalk the boost up to the iPhone, at least in part, of which 1.1 million were moved during the quarter. Verizon's earnings report drops on Monday, so we can head-to-head 'em to see whose loss is AT&T's gain, iPhone or otherwise. [AT&T]