AT&T reports record earnings for 3rd quarter; profit reaches $963 million; long-distance business shows a steady 6% rise

Article Abstract:

AT&T reported for its 3rd qtr FY 1992 record earnings of $963 million, the equivalent of 72 cents per share, a 3.5 percent revenue rise and a 6 percent growth in the long-distance market, figures that compare favorably to the company's report for 3rd qtr FY 1991. In FY 1991, the company reported a $1.8 billion loss, the equivalent of $1.40 per share, because of $4.2 billion in charges for restructuring and other activities. AT&T's net income for 3rd qtr of FY 1992 rose 16 percent, and its earnings per share increased by 12.5 percent. Telephone equipment sales also rose. In response to the report, the company's stock prices rose $1 per share, closing at $42 per share at the New York Stock Exchange. AT&T says it hopes to keep its market share of long-distance business and will be increasing advertising and promotions in this area.

COMMUNICATION, Finance, T, Profits, Growth (Physiology), Revenue, Growth, Third Quarter, Profit, Stock, Financial Report

---

Bell Canada gives contract to sister firm

Article Abstract:

Bell Canada has signed a contract with sister company Northern Telecom Ltd to supply $913 million worth of digital central office switching equipment for its modernization program. The company expects to have a fully-digital network in place by 1994, well before its original target date of 1997. Northern Telecom will receive a boost in profits from the deal, but the additional revenue may not appear on its reports until 1993. Bell Canada, the dominant telephone carrier in Canada, is following AT&T and MCI Communications Corp in attempting to accelerate modernization of its network. Northern Telecom is also working with Nynex Corp's New York Telephone business unit to begin testing a new high-speed videoconferencing service.

Telephone and telegraph apparatus, Telecommunication switching equipment, Telecommunications switching equipment, Bell Canada, Equipment Acquisition, Northern Telecom Canada Ltd.

---

Nintendo envisions coast-to-coast matches for players

Article Abstract:

Nintendo of America Inc is planning to introduce a nationwide network by the mid-1990. Nintendo is discussing plans with American Telephone and Telegraph Co, as well as other parties, about providing telephone lines needed to link Nintendo users, who would communicate via modems to play in such video ventures as nation-wide golf tournaments. At a later date, other uses of the network communication system could include banking services and brokerage information, but the company states that video games would still be a priority. Nintendo Co, the company's parent in Japan, already offers such extended services.

Planning, Computer networks, Product development, Marketing, Video games, Modems, Nintendo of America Inc., Modem, Networks

Similar abstracts:

• Abstracts: Relief at last for the small-business sector. 8 ways to get ready for the change
• Abstracts: Intel chips in for a new profit. The sky's the limit to getting on the Web. Wizards are wiser
• Abstracts: Wang Labs to emerge from Chapter 11 with strong balance sheet, chief says. Wang Labs electronic-image aide quits in blow to fast-growing sector of firm
• Abstracts: Ericsson doubles profit for quarter; cites cellular gear. Ericsson says pretax profit rose 16% in 4th period, but firm is cautious on '91
• Abstracts: Computer memories add third dimension; advance promises storage that is denser, faster; applications years away

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.