AT&T quarterly profit rises
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AT&T Inc  on Thursday posted a higher quarterly profit as strength in its wireless business offset weakness in traditional consumer services.
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Walt Disney Co. DIS.N quarterly  profit rose on Thursday as improvement in the cable television,  consumer and theme park units and a tax benefit more than made  up for a slowdown at Disney's movie studio.
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Nextel Communications Inc. NXTL.O,  the sixth largest U.S. mobile company, on Friday said its  quarterly profit rose on better-than expected subscriber growth  and it raised its full-year outlook for net earnings and new  subscribers.
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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 profit.
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German phone giant Deutsche Telekom AG said Thursday its third-quarter net profit jumped to 1.39 billion euros (&#36;1.73 billion) amid growth at its wireless and Internet businesses, and raised its full-year forecast.
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AT&T said today that its earnings jumped a better-than-expected 84 percent in the fourth quarter as it slashed costs and benefited from a write-down of assets.
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Verizon Communications  said on Monday its quarterly profit rose and its wireless customer additions were ahead of analyst estimates.
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AT&T Corp. T.N, the No. 4 U.S.  telephone company, said on Thursday its fourth-quarter earnings  increased as it cut costs through slashing jobs and lower  equipment expenses.
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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, 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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Qualcomm Inc  posted a  higher quarterly profit on Wednesday due to demand for its  mobile phone chips, and its shares rose 6.5 percent.
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The company said quarterly profit rose to $494 million despite a slowing U.S. economy, but it lowered its full-year earnings outlook.
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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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AT&T Corp., the No. 4 U.S. telephone  company, said on Thursday its fourth-quarter earnings increased  due to cost-cutting through job cuts and a tax benefit from the  writedown of its assets.
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Package delivery company FedEx Corp  said on Thursday quarterly profit rose despite a slowing U.S. economy.
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United Parcel Service Inc.  said on Thursday its quarterly profit rose but missed expectations as shortfalls in its U.S. package business and rising fuel prices offset strength internationally.
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AT&amp;T&#39;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.AT&amp;T&#39;s pro forma revenue was $30.4 billion for the quarter, up 2.9 percent from a year earlier, when comparing combined revenue from AT&amp;T, BellSouth and the former Cingular Wireless.&#160;AT&amp;T acquired BellSouth&#160;and&#160;Cingular&#160;on Dec. 29, 2006.A net gain of 2.7 million mobile subscribers helped drive up the year-over-year pro forma numbers, AT&amp;T said in a news release. Most of those subscribers&#160;came to AT&amp;T through its exclusive contract to provide service for Apple&#39;s iPhone; Apple said Tuesday it sold 2.3 million iPhones during the quarter.AT&amp;T&#39;s official reported revenue for the fourth quarter, which ended Dec. 31, was $30.3 billion, up from stand-alone revenue of $15.9 billion in the fourth quarter of 2006. Those numbers were up slightly from the third quarter of 2007. Some merger-related costs account for the difference in revenue figures.AT&amp;T reported a net income of $3.1 billion for the fourth quarter of 2007, up from $1.9 billion, mostly due to its acquisition of BellSouth and Cingular.By comparison, AT&amp;T also had net income of $3.1 billion for the third quarter of 2007, with both quarter&#39;s numbers including income from BellSouth and Cingular, which was co-owned by AT&amp;T and BellSouth.The company&#39;s reported earnings per share were $0.51, up from $0.50 in the fourth quarter of 2006. Excluding one-time charges, earnings per share was $0.71, matching consensus earnings expectations by analysts polled by Thomson Financial. However, AT&amp;T missed on the revenue side: analysts had expected it to post $30.55 billion.AT&amp;T had an &quot;excellent&quot; fourth quarter, Randall Stephenson, AT&amp;T&#39;s chairman, president and CEO, said in the statement. AT&amp;T&#39;s mobile customer increase was the largest quarterly gain ever by a U.S. provider, he said. The company had 70.1 million mobile customers at the end of the year.Stephenson also pointed to growth in AT&amp;T&#39;s enterprise and broadband businesses. &quot;These growth trends, combined with the significant opportunities we have for continuous cost improvements, reinforce the positive outlook we have for our business,&quot; Stephenson said. &quot;AT&amp;T has a terrific set of assets and an impressive record in terms of executing and delivering on targets, and I am very confident in our ability to drive strong results in 2008.&quot;AT&amp;T&#39;s mobile revenues were $11.4 billion, up 16.3 percent from the fourth quarter of 2006. Mobile data revenue was up 57.5 percent.In AT&amp;T&#39;s wireline business, the company had 231,000 subscribers to its U-verse IP-based video service at year&#39;s end, up from 126,000 at the end of the third quarter.AT&amp;T&#39;s broadband revenues grew 13.7 percent in the fourth quarter to $1.4 billion. Total high speed Internet connections, which include DSL, AT&amp;T U-verse high speed Internet and satellite broadband services, increased by 396,000 in the quarter to reach 14.2 million, up by 2 million from the end of 2006.