AT&T; profit soars 62% in 4th quarter
From Times Wire Services
AT&T; Inc., the biggest U.S. phone-service provider, said profit increased 62% after it added a record 2.7 million wireless customers.
But sales missed analysts’ estimates after the company cut off more home-phone subscribers who failed to pay bills.
Fourth-quarter net income increased to $3.14 billion, or 51 cents a share, from $1.94 billion, or 50 cents, a year earlier. Sales almost doubled to $30.3 billion, short of the $30.5-billion average of analysts’ projections.
