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Cingular Earnings Nearly Quadruple

Adding 2.4 million subscribers, AT&T unit enjoys 'best-ever' quarter

January 25, 2007

1 Min Read
Cingular Earnings Nearly Quadruple

Distancing itself from its wireless carrier rivals, Cingular Wireless said yesterday its net income almost quadrupled year over year in the fourth quarter, increasing to $782 million from $204 million in the same period in 2005. The company, now a division of AT&T Inc. (NYSE: T), said it added 2.4 million subscribers in the last three months of 2006, a company record.

This is the last time Cingular will report earnings separate from its parent company, after AT&T completed its acquisition of BellSouth last week. AT&T shares jumped by almost 4 percent on the Cingular report.

"Our last quarter as a joint venture operating under the Cingular name was our best ever on a variety of fronts," said Stan Sigman, the company's president and CEO, in a statement.

Get the details at Unstrung.

— Richard Martin, Senior Editor, Unstrung

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