Widgets for Webmasters
The largest U.S. phone company's 30% profit jump suggests that the economic slump may not be as harsh as expected for some telecom service providers Concern over how big a toll the U.S. economic slump will take on telecom service providers abated when AT&T announced second-quarter results that met analysts' forecasts. The numbers buoyed confidence in how well other U.S. phone companies will weather the economic storm and indicated that recent telecom share declines may be overdone. Early on July 23, AT&T said second-quarter net income jumped 30%, to $3.7 billion, as operating revenue rose 4.7%, to $30.86 billion. It also reported adjusted operating margins of 37.3%, beating the expectation of some analysts, including John Hodulik of UBS , who forecast a margin of 36.7%. Tough, Competitive Market Sure, some of the strength... [read full story]
