AT&T the telecommunications carrier had bumped its “administrative fee,” a tiny line item at the bottom of customers’ bills, from 76 cents to $1.99, CNBC reports. The change is estimated to impact about 85 percent of AT&T’s 64.5 million post-paid phone lines in service, making for about $800 million in additional annual revenue for the telecom provider. The fee does not apply to pre-paid lines, according to Piecyk.
AT&T’s administrative fee has not changed much since it was first introduced in 2013 at 61 cents per month. Subsequent bumps went unnoticed, but Piecyk wrote in the note that BTIG suspects the fee has been hovering around 76 cents for the past year. Then AT&T bumped the fee twice in the past three months. In April the administrative fee climbed by about 50 cents to $1.26. It was bumped again to $1.99 in June. Read more at CNBC .