By Sinead Carew
(Reuters) – AT&T Inc reported a higher-than-expected quarterly profit as iPhone sales declined, reducing the amount of cash it had to pay Apple Inc and boosting its margins.
Shares of AT&T rose 1.5 percent after the news. The company and its rivals were weighed down by iPhone costs in fourth quarter, when the latest version of the popular phone hit stores. While fewer iPhone sales meant weaker subscriber growth for AT&T, it did help the company’s wireless service profit margin.
(Reuters) – Texas Instruments Inc (TXN.O: Quote, Profile, Research, Stock Buzz) forecast second-quarter revenue growth ahead of Wall Street estimates, signaling the end of a prolonged inventory-related decline in demand, sending its shares up 4 percent in late trading.
The maker of chips used in everything from communications equipment to cars said it expects revenue growth for the rest of the year due to a broad-based improvement in demand after several quarters when its clients cut inventories.
NEW YORK, April 18 (Reuters) – Verizon Communications Inc
posted first-quarter earnings and revenue that beat Wall
Street expectations as customers increased their spending on
services such as wireless data, sending its shares up more than
While wireless customer growth slowed, Chief Financial
Officer Fran Shammo said the company’s mobile venture, Verizon
Wireless, saw the fastest growth in mobile service revenue in
three years as more customers used smartphones.
NEW YORK (Reuters) – Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) warned on Wednesday that it would have trouble meeting demand for some of its advanced cellphone chips for the rest of the year due to manufacturing constraints.
While the leading mobile phone chip maker maintained its previous revenue outlook for its fiscal year 2012, its shares fell 3 percent as investors had hoped it would be able to raise its targets.
April 18 (Reuters) – Verizon Wireless plans to put a chunk
of wireless spectrum up for sale in a move that is seen
improving its chances of gaining regulatory approval of its
controversial plan to purchase a block of spectrum from cable
The company’s offer to sell spectrum follows opposition from
several smaller rivals to its efforts to buy about $3.9 billion
worth of wireless airwaves from cable companies including
Comcast Corp and Time Warner Cable Inc.
April 9 (Reuters) – AT&T Inc said on Monday that it
would sell a 53 percent stake in its declining Yellow Pages
business to private equity firm Cerberus Capital Management LP
[CBS.UL} in a deal worth $950 million including debt, allowing
AT&T to focus on its core telephone business.
Once a cash cow for telephone companies, directories have
become much less relevant in recent years as consumers turn to
the Internet to find telephone numbers for businesses.
NEW YORK (Reuters) – Sprint Nextel, the No.3 U.S. mobile service, is hoping to turn heads next month with the EVO 4G LTE, an HTC Corp phone with an advanced camera, a big screen, a high-speed wireless connection and crisper voice call quality.
However the device may not immediately support fast data services and the new sound technology as it is expected to hit store shelves before Sprint launches services based on a multi-billion-dollar network upgrade it plans to kick off around mid-year.
NEW YORK, March 22 (Reuters) – T-Mobile USA is cutting 1,900
jobs, or about 5 percent of its workforce, as it closes seven
call centers, and the company said it may cut more jobs in
The unit of Deutsche Telekom is cutting costs to
preserve cash for investment in its network as part of a bigger
restructuring following the failure of its proposed $39 billion
purchase by AT&T Inc late last year due to regulatory
NEW YORK (Reuters) – Texas Instruments (TXN.O: Quote, Profile, Research, Stock Buzz) expects revenue growth to resume in the second quarter, signaling an end to the inventory correction that dogged the chip maker last year.
The prospect of a return to growth took the sting from TI’s warning on Thursday that it would miss its first-quarter financial targets due to weak demand for its wireless chips.