AT&T Boosts 3Q Profits Slightly

Some good news at last? AT&T Inc. (T) today reported a 5.5 percent rise in profit during the third quarter of 2008.

Analysts and other experts have been saying AT&T and Verizon Communications Inc. (VZ) results would serve as a bellwether for the entire telecom industry – whether it sinks or swims, as it were.

Despite the promising news of higher net profit ─ $3.23 billion as compared to $3.06 billion a year earlier – AT&T stocks were down nearly 6 percent in early afternoon trading Wednesday. That had to do with ongoing economy concerns.

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