Monday, October 23, 2006
AT&T Profit Skyrockets 74% on Cingular Wireless Gains
Cellular News reports that AT&T Inc. reported third-quarter net income jumped nearly 74%, lifted largely by acquisitions and results at the Cingular Wireless joint venture.
The San Antonio, Texas, telecommunications company earned US $2.17 billion, or 56 cents a share, in its third full quarter of operations since the former SBC Communications bought the old AT&T and adopted its famous name.
Obtaining 100% control of Cingular would enable AT&T to promote a unified brand, reduce expenses and fully exploit the benefits of its rapidly expanding wireless unit.
So.....is the Cingular orange soon fading to blue?