Atlantic Equities Expresses Confidence in AT&T and Cingular

7:00 am on July 26, 2006 | Category: Business, Corporate, Telecom Services, Telephone, Wireless

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America’s top telephone provider, AT&T, has posted better-than-expected financial results for the second-quarter, helped along by strong growth in broadband and wireless.

AT&T reported total earnings of $0.58/share, compared to just $0.35 in the same period last year. This easily exceeded the $0.53/share predicted by a Reuters survey of analysts.

Profit margins were also up, with the company’s consolidated operating income margin falling between 17% and 18%, or two percentage points higher than average forecasts.

This strong growth in profits was largely due to AT&T’s 60% share in wireless joint venture, Cingular, which announced record-breaking second-quarter financial results last week.

“It’s a pretty strong set of numbers,” said Atlantic Equities partner, Chris Watts. “We’re seeing good operating-expense trends, with the company raising its margin guidance for the full year.”

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock