To: Scrapps who wrote (8693 ) 4/25/2000 9:30:00 AM From: mike cobble Respond to of 9236
Just another Ho-Hum day with companies beating earnings. Here's a little from SBC: DSL lines up 75% from 99 year end. "SBC's Profits Rise, Beating Forecasts NEW YORK (Reuters) - SBC Communications Inc. (NYSE:SBC - news), the No. 1 U.S. local telephone company, said on Tuesday its first-quarter profits rose a better-than-expected 12 percent amid strong growth in its wireless, data and international operations. San Antonio, Texas-based SBC said first-quarter profits, excluding one-time items, increased to $1.9 billion, or 56 cents a share, compared with $1.7 billion, or 49 cents a share, a year ago. The results exceeded Wall Street expectations of 52 cents a share, according to First Call/Thomson Financial. First-quarter revenues grew 8.4 percent to $12.6 billion. Including one-time items, SBC's first-quarter profits were $1.8 billion, or 53 cents a share, compared with $2.0 billion, or 51 cents a share a year ago. ``Data, wireless and international operations together with our core wireline business delivered strong earnings and cash flows,'' said SBC Chairman Ed Whitacre. SBC, which has 53 million customers in states reaching from Ohio to California, reiterated that it expects double-digit revenue growth and midteens earnings growth beginning in 2001. First quarter data services revenues increased 40.8 percent to $1.6 billion, driven by corporate customers' demand for high-capacity data transport services. SBC, like other local phone companies, has been investing heavily in new data services. SBC last year began a $6 billion initiative called Project Pronto to upgrade its local phone network to provide high-speed Internet access. High-speed digital subscriber lines increased to 201,000 at the end of the first quarter, up about 75 percent from year-end 1999. Domestic wireless revenues grew 30.1 percent to $1.5 billion as the company added 338,000 domestic wireless subscribers. SBC ended the quarter with 11.7 million domestic wireless subscribers, up 29.7 percent compared with the year-ago quarter. SBC and Atlanta-based local telephone company BellSouth Corp. (NYSE:BLS - news) recently agreed to combine their U.S. wireless telephone operations to gain broader geographical coverage and create the nation's No. 2 U.S. wireless carrier. SBC, the biggest non-European investor in European telecommunications, said international revenues rose 56 percent to $1.9 billion. Those results reflect SBC's ownership stake in various joint ventures. SBC has investments in 22 countries outside the United States."