AT&T's earnings soar, beating estimates; net jumps 68% on growth in wireless subscribers, continued cost cutting

Article Abstract:

AT&T reports a 68 percent jump in earnings for 3rd qtr 1998. The company earned $1.96 billion, or $1.09 a diluted share, compared with $1.16 billion, or 65 cents a diluted share, in the same period in 1997. New wireless subscribers and continued cost-cutting are cited as reasons. The company reports a 2.9 percent drop in revenue from its consumer segment, to $5.8 billion, reflecting fierce competition in the long-distance market. Overall revenue is up 4.3 percent, to $13.65 billion from $13.09 billion in 1997. Cost-cutting measures reduced overhead by $564 million during the quarter. Overhead expenses were 24.4 percent of revenue, down from $29.8 percent in the previous year. Revenue in the company's wireless business surged 19 percent, to $1.42 billion. AT&T Chmn and CEO targets 6 percent revenue growth in 1999.

Sales, profits & dividends, AT&T Corp., T, Company sales/revenue, Company sales and earnings, Company earnings/profit

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Nextel Communciations loss narrows

Article Abstract:

First-quarter loss for Nextel Communications Inc. was less than expected, at $372 million, down from last year. Revenue was up 48% from a year ago. 19,000 new Nextel Partners subscribers were added, but at a higher cost. Some analysts take a dim view of plans to sell phones directly to consumers.

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AT&T Wireless net rises on strong sales

Article Abstract:

AT&T Wireless Services Inc. reported an increase of 32% in net income in the second quarter, while competitor Nextel Communications Inc. saw a loss of $369 million, up from a year earlier. AT&T Wireless gained 668,000 new subscribers, while Nextel added 485, 900.

Radiotelephone communications, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Statistical Data Included, Wireless communications services, AT&T Wireless Services Inc.

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