AT&T Profit Surges 41%, With Help From iPhone
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AT&T, which is the sole supplier of cellphone service on the Apple iPhone, is clearly benefiting from the deviceâs strong sales.
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Apple Inc  blew by analysts' estimates with a 67 percent rise in profit on Monday as the popularity of its iPhone and iPod boosted Macintosh computer sales, and its shares jumped 7 percent.
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SAN JOSE, Calif. - Apple Inc.'s fiscal fourth-quarter profit jumped 67 percent and easily beat Wall Street expectations, capping a record-breaking year that saw unprecedented momentum in its Mac business, ceaseless consumer interest in its iPod players, and a successful introduction of its newest endeavor, the iPhone.
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Federal regulators approved the $41 billion purchase of AT&amp;T Wireless by Cingular Wireless, a crucial step in a merger that will create the nation&#39;s largest cellphone company.
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AT&T Inc. sold almost all its  initial stock of Apple Inc.&#39;s iPhone within hours of the device  going on sale, an AT&T spokesman said on Saturday.
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Although most of the significant quarterly gains were the result of the completed merger with BellSouth, AT&T reported continued growth in its wireless revenue.
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InfoWorld - AT&T's revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company said Thursday.
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AT&T Inc.  sold almost all  its initial stock of Apple Inc.&#39;s  iPhone within hours  of the device going on sale, an AT&T spokesman said on  Saturday.
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Apple&#39;s stock soared to a record high Tuesday amid analyst reports that sales of highly profitable iPhones easily rocketed past 300,000 after its US launch.
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AT&T Corp., the No. 4 U.S. telephone  company, said on Thursday its fourth-quarter earnings increased  as it cut costs by slashing jobs and from a benefit related to  a prior writedown of assets.
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WASHINGTON - Cingular Wireless LLC announced Tuesday that it completed a $41 billion acquisition of AT&T Wireless Services Inc., creating the nation's largest wireless carrier, following approval from two U.S. government agencies.
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Following approval from two U.S. government agencies, Cingular Wireless LLC has completed the $41 billion acquisition of AT&T Wireless Services Inc., creating the nation's largest wireless carrier.
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Apple Inc.  sold about 525,000 iPhones at Apple and AT&T Inc.  stores in the first weekend since its June 29 launch, the Los Angeles Times reported on Monday, citing an analyst.
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SAN ANTONIO -- AT&T Inc. posted a 61 percent increase in second-quarter earnings on Tuesday, lifted primarily by its buyout of BellSouth Corp. but also aided by gains in wireless subscribers and revenue.
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AT&amp;T&#160;reported net income of $3.1 billion for the third quarter of 2007, up from $2.2 billion a year earlier, largely due to its&#160;acquisition of BellSouth.AT&amp;T nearly doubled its revenue from a year ago, going from $15.6 billion to $30.1 billion, but those 2006 numbers don&#39;t factor in the BellSouth acquisition and revenue from Cingular Wireless, which AT&amp;T and BellSouth co-owned. The BellSouth deal closed Dec. 29, 2006.AT&amp;T&#39;s revenue was up 3.2 percent from the combined revenue from AT&amp;T, BellSouth, and Cingular in the third quarter of 2006. Comparable earnings per share were $0.50 compared to $0.56 the third quarter of 2006.AT&amp;T&#39;s adjusted third-quarter earnings, which exclude costs and accounting effects associated with the acquisition, were $4.3 billion, or $0.71 per diluted share, up from $2.4 billion, or $0.63 per diluted share, in the third quarter of 2006.AT&amp;T&#39;s third-quarter results were &quot;excellent,&quot; Randall Stephenson, AT&amp;T chairman and CEO, said in a statement. Stephenson cited growth in wireless, broadband, and U-verse TV customers as the reason for a strong quarter.AT&amp;T&#39;s renamed wireless division saw an increase in 2 million customers in the quarter, the company said. The company&#39;s wireless division now has 65.7 million subscribers.AT&amp;T&#39;s merger integration efforts are on schedule, the company said, and cost savings are running ahead of the original estimates. In the first three quarters of 2007, cost savings from the BellSouth merger were about $2.8 billion, and AT&amp;T expects those savings to reach more than $3 billion for the year.Wireless data revenue increased 63.9 percent from last year, driven by increases in consumer and business data usage, including messaging, media bundles, laptop connectivity, and smart phone connectivity, AT&amp;T said.In the broadband space, AT&amp;T&#39;s connections, including DSL (Digital Subscriber Line), AT&amp;T U-verse, and satellite broadband services, increased by 499,000 in the quarter to reach 13.8 million. That&#39;s up 2.2 million, or 18.6 percent, over the past year.
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Apple Inc.'s  iPhone may be  too expensive for most Americans, but the much-hyped device is  expected to help AT&T Inc.  win quality customers and  drive shoppers into its stores.
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AT&T Inc. earned $3.1 billion in the fourth quarter as its wireless and broadband businesses did well, a trend the nation's largest telecommunications company said would help it keep growing even in a sputtering economy.