AT&T has posted a profit of $1.58 billion on revenue which increased by 6.7 per cent to $15.8 billion, compared with the same period last year, in its second quarter to 30 June 1999.
The US telecoms behemoth recently completed its assimilation of the IBM Global Network into its services division and is on the verge of gaining regulatory approval for an international alliance with BT, which also turned in a solid set of second quarter results today. (see earlier story)
"Moving international traffic more efficiently is a key goal of the relationship with BT," AT&T chairman Michael Armstrong said.
AT&T also forged closer ties with Microsoft during the quarter, after the software giant agreed to take a $5 billion stake in the company as part of a set-top box licensing deal for its Windows CE portable operating system. see Newswire 6 May 1999)
Armstrong said the latest figures reflected another quarter of improved financial performance for AT&T.
"It’s been a quarter of execution, with improved performance," he said.
The company would continue to lead the market in keeping costs low, he said.
"We’re determined to be a pricing leader and be ahead of the cost and price curves."
AT&T has spent $4.4 billion on capital expenditure in the year to date and expects to invest up to $12 billion by the year’s end.
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