AT&T revenue up on BellSouth acquisition

AT&T REVENUE UP ON BELLSOUTH ACQUISITION
[SOURCE: InfoWorld, AUTHOR: Grant Gross]
AT&T reported net income of $3.1 billion for the third quarter of 2007, up from $2.2 billion a year earlier, largely due to its acquisition of BellSouth. AT&T nearly doubled its revenue from a year ago, going from $15.6 billion to $30.1 billion, but those 2006 numbers don't factor in the BellSouth acquisition and revenue from Cingular Wireless, which AT&T and BellSouth co-owned. The BellSouth deal closed Dec. 29, 2006. AT&T's renamed wireless division saw an increase in 2 million customers in the quarter, the company said. The company's wireless division now has 65.7 million subscribers. AT&T's partnership with Apple on the new iPhone drove much of the wireless growth, said Rick Lindner, AT&T's senior executive vice president and chief financial officer. Since the iPhone launched in late June, AT&T has signed up 1.1 million iPhone subscribers, with 40 percent of them new AT&T wireless customers, he said. Independent telecom analyst Jeff Kagan called AT&T's five-year exclusive iPhone contract with Apple "a big win for the company."
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