AT&T Inc.s fourth-quarter profits rose 17 percent thanks to increases in DSL and wireless subscribership.
The companys net income grew to $1.94 billion, or 50 cents a share, up from $1.66 billion, or 46 cents a share, from the same quarter a year earlier. AT&Ts revenue rose 23 percent to $15.9 billion.
AT&T gained full control of Cingular Wireless LLC when it merged with BellSouth Corp. late last year. Ed Whitacre, AT&Ts chairman and CEO, said enterprises are buying more wireless services, helping to improve adoption numbers and revenue.
He also raised his forecast from savings from the BellSouth merger by about $4 billion, from $18 billion to approximately $22 billion.
AT&T added 383,000 DSL subscribers in the fourth quarter, bringing its total numbers to 8.5 million, up 1.6 million from a year ago. The company continued to lose access line users, though those numbers dropped by 227,000.
AT&T Inc. www.att.com
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September 24 2018 @ 18:15:10 UTC