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. the Cingular orange soon fading to blue?

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