iT&T: iPhone 3G Sales "Nearly Double" Original

Given the speed at which consumers are abandoning their traditional landlines, AT&T and its shareholders should be quite pleased with the company’s latest earnings. AT&T (T) said Wednesday that second-quarter profit rose 30 percent as it gained a net 1.3 million wireless customers. Revenue rose 4.7 percent to $30.87 billion from $29.48 billion, with a nearly 16 percent increase in wireless sales more than making up for a 8.3 percent drop in AT&T’s traditional voice-calling business.

And wireless sales will undoubtedly increase again in the months ahead thanks to Apple’s (AAPL) new iPhone 3G. AT&T reports that sales of the device in the first 12 days doubled those of the original iPhone last year, despite supply issues. “In the days following our exclusive U.S. launch of this new device, powered by the nation’s fastest 3G wireless network, customer response has been everything we had anticipated and more,” Randall Stephenson, AT&T chief executive, said in a statement. “This strengthens our wireless business, and it reinforces our positive view of the opportunities ahead for AT&T and the industry.”