Jan 24, 2008 9:27 am US/Central
AT&T Reports $3.1 Billion In Earnings For 4Q
SAN ANTONIO (AP) ―
AT&T Inc., the nation's largest telecommunications company, earned $3.1 billion during the fourth quarter on gains in its wireless business and growth in its broadband Internet sales, the company reported Thursday.
The net income amounted to 51 cents per share. During the same period of 2006, the company earned $1.9 billion, or 50 cents per share. The results that quarter did not include the earnings of BellSouth or Cingular Wireless because AT&T's takeover wasn't completed until final days of the quarter.
Without the costs and accounting effects from acquisitions, the company would have earned 71 cents per share during the fourth quarter, in line with the expectations of analysts surveyed by Thomson Financial.
In its release Thursday, the company also reaffirmed its previous earnings growth guidance for the current year.
Revenue nearly doubled to $30.25 billion from $15.9 billion last year for the fourth quarter.
Shares fell 59 cents to $36.10 at the open of trading.
AT&T Inc., the nation's largest telecommunications company, earned $3.1 billion during the fourth quarter on gains in its wireless business and growth in its broadband Internet sales, the company reported Thursday.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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