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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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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The iPhone won't be just for customers living in the big cities. On the day it is introducing the hugely hyped cell phone, AT&T announced it will acquire wireless provider Dobson Communications for $2.8 billion in cash.
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Top telecommunications service  provider AT&T Inc.  on Tuesday said its profit and revenue  grew on an adjusted basis, helped by strong growth in its  wireless business.
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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its goal of 40 percent market share in handset sales. The companyâs stock soared.
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Apple Computer Inc. reported yesterday that profit in its fourth fiscal quarter jumped 140 percent from the comparable quarter last year.
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AT&T reported a 17 percent increase in quarterly profits driven by a sizable increase in wireless subscribers.
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US antitrust regulators have approved the $41 billion purchase of Redmond-based AT&amp;T Wireless Services Inc. by Cingular Wireless LLC, the Associated Press and Reuters have reported.
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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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Investor's Business Daily - All those long lines of first-day Apple iPhone buyers didn&#39;t immediately pay off as expected for the device&#39;s service provider, AT&amp;T, but the company on Tuesday still reported better-than-expected earnings, aided by strong wireless growth.
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Apple Inc.  is expected  to show a 35 percent surge in quarterly profit this week, but  the focus will be on just two days: the last 48 hours of June  when its highly anticipated iPhone went on sale.
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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.
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AT&T Inc. sold almost all its initial stock of Apple Inc.'s iPhone within hours of the device going on sale, an AT&T spokesman said on Saturday.
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AT&T's revenue was up in the fourth quarter of 2007, largely due to increases in mobile phone and broadband customers, including iPhone users.
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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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As reported by DigiTimes, â âthe iPhone has become AT&Tâs top selling device, commanding some 13% of AT&Tâs overall handset sales, and the fourth top selling handset in the US market,â according to Barry Gilbert, VP of the Strategy Analytics BuyerTRAX programs.â Whatâs more, DigiTimes also quotes Gilbert as indicating that â â the sales trajectory we are observing with the iPhone could make it the top selling device in the US over the next 1-2 quarters.â â
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Apple announced on Wednesday that its quarterly profit more than doubled because of continued strong sales of iPod music players, beating Wall Street estimates by a wide margin