AT&T Profit Jumps 22% on IPhone Sales, Merger Savings |
| Bloomberg - Apr 22, 2008 |
AT&T Inc., the biggest U.S. phone company, said first-quarter profit rose 22 percent on sales of mobile handsets such as the iPhone and savings from the $86 billion purchase of BellSouth Corp.
Net income jumped to $3.46 billion, or 57 cents a share, from $2.85 billion, or 45 cents, a year earlier, the San Antonio- based company said today in a statement. Sales climbed 6.1 percent to $30.7 billion, meeting the average estimate in a Bloomberg survey of analysts.
Customers are dropping home-phone lines to switch to cable providers' voice plans, and signs are building that businesses may cut spending, forcing Chief Executive Officer Randall Stephenson to look to wireless sales for growth. AT&T, the exclusive U.S. carrier for Apple Inc.'s iPhone since it went on sale in June, cut the handset's price in September.
Read Full Article from Bloomberg
- Posted: 2008-04-22 08:57:56
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