AT&T head sees Broadband margin/revenue gains
BOSTON, July 11 (Reuters) - The chairman of telephone and cable television giant AT&T Corp (NYSE:T - news) on Wednesday expressed confidence that revenues and margins for the company's broadband unit will increase for the year, aided by market penetration by the company's upgraded systems.
``I can say I am very encouraged by the improvement in performance of our broadband unit,'' AT&T Chairman Michael Armstrong told the Greater Boston Chamber of Commerce.
``Now, I'm even more confident that revenue growth for the year will in fact grow in the mid-teens. As we improve the penetration of our upgraded systems, we'll increase our margins this year by more than 300 basis points,'' Armstrong told the business group.
In the first quarter, the Broadband unit had a cash-flow margin of 16 percent, and it said revenues, adjusted for acquisitions, grew 10.4 percent in 2000.
The Broadband unit is the object of an unexpected $40.5 billion offer from Comcast Corp. (NasdaqNM:CMCSK - news), the No. 3 cable company. |
