AT& T profits on mobile service, Bell South takeover
( dpa )- Leading US telecom provider AT& T said Thursday its fourth quarter profits rose 62 per cent on strong mobile service contracts and the takeover of rival BellSouth.
The San Antonio, Texas-based firm said quarterly profits increased to 3.1 billion dollars, or 51 cents per share, from 1.94 billion dollars, or 50 cents per share, in the year earlier quarter. Revenue nearly doubled to 30.3 billion dollars at the sole US mobile service provider for Apple's hot iPhone .
For the year, net income increased 63 per cent to 12 billion dollars and revenues rose 88 per cent to 19 billion dollars.
AT& T's record mobile service growth made up for a decline in land- line customers, with 656,000 users disconnecting their home phone lines. In the final quarter of 2007, the firm signed 2.7 million new mobile customers, the largest-ever increase for a US mobile services provider, chief executive Randall Stephenson said. Mobile services made up more than third of earnings.