AT & T net rose 12%, sales 2.7% in 1st quarter; long-distance operations, slimmer costs cited; network failure hurts

Article Abstract:

Long-distance telephone company AT and T reports a 12 percent increase in net income from a 2.7 percent increase in sales during the first quarter of 1990. Net income is 62 cents a share, or $668 million, compared with 55 cents a share, or $594 million, during the first quarter of 1989. Operating profit in the first quarter increased 21 percent to $1.18 billion from $997 million in the previous year while revenues rose to $8.89 billion from $8.66 billion during that period. Revenue from product sales increased only 1.2 percent from the previous year to $2.72 billion from $2.69 billion. Increased interest expenses, a higher tax rate and costs associated with a network disaster in Jan, 1990 are some of the factors that hurt net income.

Long distance telephone services, Long-distance telephone service, First Quarter

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AT&T profit increased 3.6% in 2nd period: weak economy and rivalry in long distance cited; revenue rose just 0.8%

Article Abstract:

American Telephone & Telegraph Co reports net income up 3.6 percent in the 2nd qtr of 1991. AT&T's revenue was $961 million, or 72 cents a share, which compares with $928 million, or 72 cents a share, in the same period a year ago. Net income for the quarter would have been $841 without $87 million that came from the sale of Sun Microsystems stock. Net income for the 1st half is up 9 percent, to $1.84 billion, or $1.39 a share, from $1.69 billion, or $1.31 a share. Revenue is up, to $31.22 billion from $31 billion. AT&T cites competition in the long-distance business, weak sales of telephone equipment and slowed economic conditions as reasons why results are not better. AT&T's shares closed up 75 cent on Jul 16, 1992, at $44.875.

Electronic computers, Outlook

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AT&T says net likely will fall in 2nd quarter: lower sales of equipment, credit-card costs cited; stock declines by $2.125

Article Abstract:

AT&T says 2nd qtr earnings in 1990 will probably be less than those in the year-earlier quarter. The telephone company cites lower equipment sales and the costly startup of its new credit card. AT&T's stock fell $2.125, to $39.125, on the New York Stock Exchange, and analysts lowered estimates both for the 2nd qtr and for the full year. AT&T says that 2nd qtr earnings will probably be lower than the $699 million, or 65 cents a share, in the 1989 period, but the company still expects 1990 earnings to surpass 1989's profit of $2.7 billion, or $2.50 a share.

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