Wireless Carrier Earnings Roundup
We don’t normally do these sorts of things, but with most of these announcements coming today, I thought it might provide an interesting combined picture of the US wireless carrier industry. AT&T Wirelss today announced that subscriber growth was slower than expected, but they still reported a profit and had higher revenues. Meanwhile, Verizon saw growth in its wireless business helped prop them up as they continue to lose money in their core, local telecom business. They earned quite a pretty profit, as well. While the company’s overall revenues fell, the wireless division saw its revenues rise 15%. Cingular also did okay, and, unlike AT&T Wireless added more customers than expected. This is a good sign for the company that had been losing customers. They also posted a nice profit. Nextel showed up with a profit as well and is optimistic about the future. All of these announcements follow Sprint PCS’s announcement from earlier this week saying that they (guess what?) also posted increased revenue though not a profit. With all these new customers and increasing revenue, you have to wonder why the carriers are constantly complaining.