BellSouth Posts Lower Earnings
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BellSouth Corp. (BLS.N: Quote, Profile, Research) on Monday said third-quarter earnings fell due to hurricane damage in the southeastern US.
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Qwest Communications International  Inc. Q.N on Tuesday reported a smaller quarterly loss as it  reduced costs through job cuts and lower network expenses.
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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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Verizon Communications announced earnings of $1.07 billion in the fourth quarter, but said its traditional telephone business remained a drag on the bottom line.
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WASHINGTON  - U.S. telephone and cable companiessaw the growth of high-speed Internet services slow in thesecond quarter to the lowest rate in a year, an industryresearch firm said on Tuesday.
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Texas Instruments Inc  reported lower quarterly profit and revenue on Monday as weak demand for calculators outweighed improving sales of advanced phones that use its wireless chips.
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The BellSouth Corporation, the third-largest Bell operating company, said yesterday that profit dropped 14.6 percent in the third quarter as expenses rose because of this summer&#39;s hurricanes and costs at its Cingular Wireless division.
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SBC Communications Inc.,  the No. 2 U.S. telecommunications company, said on Wednesday its fourth-quarter earnings fell 17 percent, hurt by merger-related costs at its Cingular Wireless joint venture and one-time charges for job cuts and pension changes.
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BellSouth Corp. BLS.N on Monday  said third-quarter earnings fell due to storm damage in its  region and costs stemming from Cingular Wireless' planned $41  billion purchase of AT&T Wireless Services Inc. AWE.N.
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CKE Restaurants Inc. (CKR.N: Quote, Profile, Research) , a fast-food chain operator, on Monday posted a smaller-than-expected earnings before charges, hurt by weaker
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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.
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BellSouth's approach to business has been stable, disciplined, anything but flashy. But now the company is slowly shedding its conservative approach.
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Phone company Qwest Communications International Inc  on Tuesday cut its earnings outlook for the year, sending its shares down 4 percent, though its quarterly profit rose with the help of a tax benefit and cost cuts.
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Motorola is warning that second quarter sales and earnings will be lower than expected.
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WASHINGTON (CBS.MW) -- Costs of a new retiree benefit plan will reduce BellSouth&#39;s fourth-quarter profits, the company said Wednesday.
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The company lowers its estimated share price range and cuts the number of shares to be sold. Also: Digital Lifestyles Group creates a PC designed for teens & hellip;. BellSouth says new benefits for retirees will reduce its earnings & hellip;. and more.
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Telecom equipment maker Ericsson  reported lower-than-expected profit and announced sweeping job cuts on Friday as the group hunkered down for what it expects will be a flat market this year.