AT&T reports 57% rise in net for 4th quarter; rivalry squeezes revenue at long-distance unit; Universal Card thrives

Article Abstract:

AT and T reports 4th qtr 1992 net income of $1 billion, or 75 cents per share, up 57 percent from income of $635 million, or 48 cents per share, in 4th qtr 1991. Revenue advanced from $16.46 billion to $17.5 billion. Net income for all of 1992 was $3.81 billion, or $2.86 per share, up from $552 million, or 40 cents per share, in 1991, when the company took $4.5 billion in charges associated with the acquisition of NCR Corp and other reorganizations. Annual revenue was $64.9 billion in 1992, up 3 percent from $63.1 billion in 1991. AT and T's 4th qtr 1992 report includes a 3 cent charge connected with a decline in the book value of its investment in Cie Industriali Riunite SpA and a $25 million charge for other business restructurings. AT and T Chmn Robert E. Allen lauds the results, but analysts point out that the company's long-distance revenue declined nearly 1 percent to $9.72 billion for the quarter, largely as a result of archrival MCI Communications Corp's highly successful Friends and Family promotion.

Electronic computers, Increase, Fourth Quarter

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AT&T earnings increased 6.6% in first quarter; net would have been flat without gain from sale of equity in Unix unit

Article Abstract:

AT and T reports a 6.6 percent rise in net income for the 1st qtr of 1991 on a 3.2 percent increase in revenue. The telecommunications company reported a net income of $712 million, or 65 cents a share, which is up from the $668 million, or 62 cents a share, it reported for the 1st qtr of 1990. Industry analysts note that AT and T earned about three cents a share on its sale of equity in Unix Systems Laboratories. The company expects earnings to be stronger in the 2nd qtr of 1991 if the economy rebounds from its recent recession. AT and T's operating profit rose by four percent for the period, up to $1.23 billion from $1.18 billion for the same period in 1990.

Profits, Revenue, Profit, First Quarter

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