AT&T Rides iPhone coattails to big earnings

RINGING IT UP: Steve Jobs’ Midas touch continues to fill the treasure chest of AT&T, Apple’s exclusive U.S. iPhone partner, to the tune of $4 billion in Q2 earnings. The 26% increase is primarily attributable to the activation of a record 3.2 million iPhones during the quarter. This mega-windfall won’t be over any time soon—at least not until the window of exclusivity is closed; AT&T says pre-orders for the iPhone 4 were 10 times higher on the first day of availability than for the 3GS. No surprise that the company has jacked up its full-year outlook. (7/23a)