BellSouth reported lower 3rd-quarter earnings because of hurrican...
BellSouth reported lower 3rd-quarter earnings because of hurricane-related wireline costs and expenses from the acquisition of AT&T Wireless by Cingular, in which BellSouth owns 40%. The company incurred $38 million hurricane-related costs and said it expected to recognize about…
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$90 million more 4th quarter. BellSouth said its 3rd-quarter net income dropped 15% to $799 million, compared to a year earlier, and total operating revenue decreased 1% to $5.1 billion. It said its total access lines of 21.6 million declined 4% from a year earlier. The company said its UNE-P access lines decreased by 54,000 in the quarter, compared to an increase of 188,000 a year ago. BellSouth added 532,000 mass-market long distance customers during the quarter, for 5.7 million total, and said network data revenue 3rd quarter was $1.1 billion, a 4% increase year over year driven by DSL. It said it added 134,000 net DSL customers during the quarter for 1.9 million total. Given the improved access line trends and wireless outperformance, Legg Mason said in a report it increased its 4th quarter and 2005 revenue estimates for BellSouth to $6.7 billion -- to 1.3% year- to-year growth from 1%.