SBC Reports Earnings
By: Import User
Updated: January 7, 2009
SBC reports today that its first-quarter
profit dropped 61 percent from the comparable period a year ago.
But the San Antonio-based telecom says the year-ago results were
enhanced by an accounting change. The nation`s Number Two
local-phone provider`s results still easily surpassed expectations.
SBC says it earned $1.9 billion dollars for the
three months ended March 30th -- or 59 cents per share.
Both quarters included significant gains from selling holdings
in overseas telecom ventures. Not counting the one-time gains,
SBC`s earnings of 37 cents a share in the latest quarter was five
cents below the same period a year ago. But they exceeded the 32
cents expected by analysts surveyed by Thomson First Call.
SBC posted revenue of more than ten billion dollars in the
quarter, down fractionally from last year`s quarter.
Arkansas is among the states served by SBC.
