This is actually pretty amazing....I dont know how AT&T keeps adding subs, personally I dont think their pricing structure is still competitive. The power of brand.....
AT&T Sees Q1 Wireless Subscribers Over 400,000
NEW YORK (Reuters) - AT&T Corp., the No. 1 U.S. long-distance telephone company, said it expects its wireless telephone unit to generate first-quarter revenues of more than $2.1 billion and add more than 400,000 new subscribers.
AT&T said it expects the wireless unit's earnings before interest, taxes, depreciation and amortization (EBITDA), excluding other income, to exceed $350 million during the first quarter.
AT&T (NYSE:T - news) plans to raise more than $10 billion in an initial public offering of a tracking stock that will reflect the wireless operations.
The offering, which will be launched later this spring following a series of investor presentations, would be the largest IPO in U.S. history.
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AT&T's wireless unit added 440,000 new wireless subscribers during the fourth quarter, bringing its total customer base to 12.2 million.
AT&T Wireless competes against Sprint PCS Group. (NYSE:PCS - news) and the new U.S. wireless venture formed by Bell Atlantic Corp (NYSE:BEL - news) and Vodafone AirTouch Plc (VOD.L).
Local telephone companies BellSouth Corp. (NYSE:BLS - news) and SBC Communications Inc. (NYSE:SBC - news), meanwhile, also are in talks to combine their wireless operations and create a tracking stock for the group, sources familiar with the situation said.
BellSouth and SBC declined to comment.
Shares of AT&T gained 2 7/16 to 58 11/16 on the New York Stock Exchange. |
