Profits double at AT&T

25 Apr 2007

AT&T Inc almost doubled its turnover and net profit in the first three months of the year, with much of the growth coming from cost cuts associated with its recent takeover of BellSouth and the full consolidation of Cingular Wireless. Revenues rose almost 84% year-on-year to USD28.97 billion, although the year-earlier figures do not include the contributions of BellSouth and its 40% stake in Cingular; the pro forma result for January to March 2006 would be USD28.90 billion. First-quarter net profit in 2007 increased 97.1% to USD2.85 billion. Revenues at Cingular were up by 11.2% to just under USD10 billion, with 1.19 million net new customers in the quarter, taking the total subscriber base past 62.2 million. AT&T’s wireline division saw sales growth of 24.7% to nearly USD18 billion; there were more than 65.4 million switched access lines in service at the end of March, including residential, business and wholesale lines, ADSL connections plus payphones.

United States, AT&T