AT& T's Quarterly Earnings Rise 41%
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AT&T announced yesterday that it posted a 41 percent increase in third-quarter profit, buoyed by record wireless revenue and savings from $140 billion in acquisitions.
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The company posted quarterly net profit of $904 million and revenue of $6.22 billion, up 29 percent from a year earlier.
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Motorola Inc. MOT.N on Tuesday said  quarterly earnings rose 34 percent, beating Wall Street  expectations, as it regained global market share in wireless   handsets amid robust sales of a range of function-rich phones.
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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&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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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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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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SAN ANTONIO, Dec. 15  /PRNewswire-FirstCall/ -- The Board of Directors of AT&T Inc.  today approved a 6.8 percent increase in the company's quarterly dividend, the 22nd consecutive year that the board has increased the company's dividend.
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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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Morgan Stanley said Wednesday that its net income increased 41 percent in the latest quarter, setting a record for the securities firm.
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American Pharmaceutical Partners Inc.  APPX.O soared 41 percent before the bell on Monday after the  biotechnology company said on Friday U.S. regulators approved  its breast cancer drug Abraxane.
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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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Top U.S. telecommunications service provider AT&T Inc.  on Tuesday reported a rise in quarterly profit and revenue, helped by growth in wireless and Internet subscribers.
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AT&T Inc., the nation's largest telecommunications company, earned $3.1 billion during the fourth quarter on gains in its wireless business and growth in its broadband Internet sales, the company reported Thursday.
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Texas Instruments Inc. TXN.N,  the largest maker of chips for cellular phones, on Monday said  quarterly profit rose about 26 percent on demand from handset  makers even as it struggles with a nagging inventory problem.
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Cingular Wireless (Profile, Products, Articles) LLC announced Tuesday that it completed a $41 billion acquisition of AT&amp;T Wireless Services Inc.
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AT&T reported a 17 percent increase in quarterly profits driven by a sizable increase in wireless subscribers.