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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1621)	4/30/1999 11:52:00 PM
From: porcupine --''''>	Read Replies (1) of 1722

AT&T sees strong EPS, rev growth for Q2, year NEW YORK, April 27 (Reuters) - AT&T Corp., the largest U.S. phone company, on Tuesday said it was on track to generate strong profit and sales growth in the second quarter, as well as the full year 1999. AT&T, which reported better-than-expected first quarter profits, said it expects its second quarter earnings per share to be in the range of 45 cents to 49 cents a share, including its recent acquisition of Tele-Communications Inc. "Revenue growth in the quarter should continue at levels similar to the first, with stand alone and pro forma revenue growth centered around the 6 percent target," AT&T Chief Financial Officer Dan Somers said in a conference call. For the full year 1999, AT&T said it expects its earnings to be at the high end of the expected range of $2.13 a share to $2.20 a share. AT&T also expects is 1999 revenues to be at the high end of expectations. The company previously said it expects 1999 revenues to grow between 5 percent and 7 percent. AT&T also increased its growth expectations for its wireless business based on the tremendous success of its Digital One Rate pricing plan. It now expects the wireless unit to grow revenues more than 20 percent, which is higher than the mid-to-high teens growth it previously expected. AT&T said it expects its AT&T Solution business to exceed its revenue growth objectives. Shares of AT&T gained 69 cents to $53.625 on the New York Stock Exchange. (( Jessica Hall, New York newsroom 212-859-1729))

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