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 Friday, January 27, 2006
ATT 1.66 billion profits

Telecommunications service provider AT&T Inc. on Thursday posted a profit of $1.66 billion in its first quarterly report since it was formed by SBC Communications' purchase of AT&T Corp. last November.

The results were boosted by an increase in customers for AT&T's broadband Internet service and strong customer growth at Cingular Wireless, the AT&T venture with BellSouth Corp. that posted earnings earlier this week.

Like peers BellSouth and Verizon Communications, AT&T Inc. depends on services such as wireless and broadband Internet service for growth as traditional local phone lines decline.

The company said that on a reported basis, including its 60 percent stake in Cingular, it earned 46 cents per diluted share. In the year-ago quarter, SBC alone earned $688 million, or 21 cents a share.

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1/27/2006 6:08:42 AM (Pacific Standard Time, UTC-08:00)  #    Disclaimer  |  Comments [0]  | 
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