AT&T Reports Higher 2Q Income
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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&T Inc  on Thursday posted stronger-than-expected wireless growth in the fourth quarter and reiterated its 2008 outlook, easing investor concerns that U.S. economic weakness would hurt its subscriber growth.
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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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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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AT&T reported a 17 percent increase in quarterly profits driven by a sizable increase in wireless subscribers.
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The 2.6 percent rise in second-quarter earnings overcame weak pricing in the Caribbean and higher fuel costs.
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Juniper Networks reported a second-quarter profit of $86.2 million, on a more-than-expected revenue increase of 17 percent.
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The network equipment maker reported that its quarterly net income grew 7.2 percent amid growing concern that economic weakness could affect technology spending this year.
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Motorola Inc. (MOT.N: Quote, Profile, Research) , the world&#39;s No. 2 maker of cell phones, on Tuesday said its quarterly profit more than tripled, but growth in
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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The companyâs stock soared.
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Blog: Net income for the second quarter was $925 million, or $2.93 a share, up from $721 million, or $2.33 a share, a year earlier.
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AT&T, the nation's biggest long-distance carrier, said that its profit jumped a better-than-expected 84 percent in the fourth quarter as it cut costs.
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The No. 2 electronics retailer is making strides and beats estimates.
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P&G said second-quarter earnings rose 14 percent as strong sales growth and cost-cutting measures more than offset higher commodity costs.
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A doubling of earnings, but no jump in stock price?
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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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ATI saw its income almost triple during its most recently completed fiscal quarter, Q4 2004, the company said yesterday after announcing record results.