AT&T; Wireless Adds Profit, Subscribers
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AT&T; Wireless Services Inc., the No. 3 U.S. wireless telephone company, posted a second-quarter profit on higher revenue and stronger-than-expected subscriber growth.
In the second quarter, net income available to common shareholders totaled $222 million, or 8 cents a share, compared with $19 million, or 1 cent, a year earlier. Revenue increased 6.3% to $4.2 billion.
The Redmond, Wash.-based company added 446,000 customers in the quarter, compared with Wall Street expectations of about 313,000.
AT&T; Wireless shares fell 9 cents to $7.80 on the New York Stock Exchange before earnings were announced.
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