LG Gaining Taxpayers&#39; Money
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Large sums of money from the nationâs taxpayers and financial consumers are still flowing into the LG Group and the family-controlled chaebolâs former subsidiary LG Card under management by banks.
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Cellular and other wireless telecommunications revenues rose from US&#36;92 billion in 2002 to &#36;104 billion in 2003, an increase of 14 percent, according to a U.S. Census Bureau report.
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Google generated most of its revenue -- $411.7 million -- through text-based ads displayed on company-owned sites. That&#39;s an important factor, because Google doesn&#39;t have to share the money with other advertising partners.
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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.
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British Sky Broadcasting Group Plc, Rupert Murdoch&#39;s UK pay-television company, said fiscal first- quarter profit rose 3 percent as it gained more subscribers than analysts expected.
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LG.Philips LCD (nyse: LPL - news - people ) issued its first earnings announcement since a $1 billion initial public offering in July, and the news is not dazzlingly.
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South Korea&#39;s LG Electronics said Tuesday it has signed an agrement with YouTube, the world&#39;s biggest video-sharing website, to develop a mobile phone which can operate the service.
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Since its 700-MHz auction began on Jan. 24, the FCC has raised more than $18.8 billion. That well surpasses the agency's own early estimates of attracting between $10-15 billion.
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Shares in LG Electronics Inc. (066570.KS)  rose as much as 4.7 percent on Tuesday amid market speculation  its operating profit margins in mobile phones are stronger than  expected so far in the current quarter.
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Shares in LG Electronics Inc.  rose as much as 4.7 percent on Tuesday amid market speculation its operating profit margins in mobile phones are stronger than expected so far in the current quarter.
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but winds up costing consumers tens of millions of dollars a year -- is being scaled back by two of the nation&#39;s biggest cell phone carriers.
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Shares in handset and appliance maker LG Electronics  surged as much as 7.6 percent on Friday, after the South Korean firm reported strong profits while bigger rival Motorola  posted another quarterly loss.
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The company posted first-quarter net income of $949 million, fueled by strong demand from telecommunications customers and a tax benefit.
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Its net income during the June to September period was 2.69tr won (Â£1.2bn), 46% up on the same period a year earlier. During the period, which is Samsung Electronics&#39; fiscal third quarter, the company said
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South Korea's LG Electronics said its net profit surged 130 percent to 1.48 billion dollars on record sales last year, although a weak dollar slowed fourth quarter performance.
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Business & money: Overspend on Â£17bn programme to upgrade network could be more than double previous estimate.
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In 2005 and 2006 combined, the nation's largest telecommunications companies, AT&amp;T and Verizon, contributed $12,000 to Sen. John D. Rockefeller IV (D-W.Va.). This year, they gave $47,350.