AT&T Activates 3.1 Million iPhones in Q4

Widespread criticism of AT&T’s network performance hasn’t had much impact on the company’s financials. Reporting fourth-quarter earnings this morning, the carrier posted a 26 percent increase in profit, fueled by solid growth from the wireless business for which it is so often lambasted. Wireless service revenue rose 9.2 percent, and the company added 2.7 million net subscribers.

Earnings rose to $3.01 billion, or 51 cents a share, from $2.4 billion, or 41 cents a share, a year earlier. Revenue was $30.86 billion. Earnings per share and revenue both met analysts’ expectations. (Click summary below to enlarge.)

AT&T (T) activated 3.1 million Apple (AAPL) iPhones in the fourth quarter, one third for new customers.

“We had a solid 2009 and led the industry in the biggest growth driver–mobile broadband,” AT&T CEO Randall Stephenson said in a statement. Looking ahead, he added, “Our fundamental outlook for the business is quite positive.”