Fewer iPhone buys at AT&T

AT&T Inc.’s subscribers are still buying iPhones, but with Verizon Wireless now selling the iconic phones too, they seem to have lost some of their power to draw new subscribers to AT&T.

AT&T, the country’s largest telecommunications company, on Wednesday said the first quarter saw the addition of 62,000 net new subscribers on contract-based plans, a record low. In the same quarter a year ago the figure was 512,000. In several previous quarters the figure was above a million.

Subscribers on contract plans pay the most every month, so they’re crucial to wireless companies. At AT&T, contract subscribers pay an average of $63.39 per month, while subscribers pay $12.94 per month for devices without contracts.

AT&T’s net income rose 39 percent to $3.41 billion, or 57 cents per share, for the January-March period, up from $2.45 billion, or 42 cents per share, a year ago.