Virgin Mobile sees earnings improvement
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Richard Branson&#39;s mobile phone group, which was listed in July, said first-half margins would be well ahead of last year and it expected capital expenditure, as a percentage of revenue, to be below 4pc in the first half and at a similar level for the full
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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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Virgin Group Ltd. is looking to launch mobile operations in China and India within the next 18 months, through joint venture deals, the London-based company said Tuesday.
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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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Qualcomm Inc. on Friday raised its  quarterly profit forecast due to strong demand for its mobile  phone technology.
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Investors will be looking to see if the world&#39;s top mobile phone maker Nokia can sustain momentum at its recovering handset unit into the key Christmas season when it reports earnings next week.
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British mobile phone giant Vodafone  Group Plc  beat market forecasts for quarterly customer  additions on Wednesday, and reiterated its annual forecasts for  revenue growth and profit margins.
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Can you hear him now: Virgin Group Chairman Richard Branson said in Hong Kong that his company has earmarked $300 million for a cell phone joint venture in China.
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Vodafone is interested in more deals in emerging markets, the UK mobile phone group said on Tuesday as it reported a 4 per cent increase in operating profit in 2006-07.
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General Motors Corp. said on Thursday it expects to significantly improve operating results, including earnings and cash flow, over the next two-to-three years.
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Virgin Group chief Richard Branson said yesterday he has earmarked US$300 million for a cellular phone joint venture on the Chinese mainland, the world&#39;s largest mobile market by users.
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The company Friday said it expected to post a profit in the third quarter, thanks to Improved pricing and product mix and higher unit volume, reversing a year-ago loss.
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Continued improvement in its operational performance boosts second-quarter earnings.
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When Virgin Group VA.UL Chairman  Richard Branson put his brand on a U.S. mobile telephone  service two years ago, there appeared to be scant space for  newcomers to the crowded market.
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Plus: Alltel profit, revenue rise...SanDisk earnings top estimates...SAP revenues solid, outlook moderate...Phone sales boost Nokia profits past forecasts.
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Motorola Inc  expects revenue  and bottom-line improvements for its mobile devices business in  the fourth quarter compared with the third quarter, a top  executive for the company said on Thursday.
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British mobile phone giant Vodafone Group Plc  beat market forecasts for quarterly customer additions on Wednesday, and reiterated its annual forecasts for revenue growth and profit margins.