NEW YORK-AT&T Corp. announced revenues for the second quarter ended June 30 increased from $13.2 billion in second-quarter 1998, to $15.7 billion this year.
The company reported earnings of $1.6 billion, or 49 cents per share, compared with $1.5 billion, or 54 cents per share, reported for the same time the previous year. The decline in earnings per share was due mainly to AT&T’s merger with Tele-Communications Inc.
Wireless services grew second-quarter revenues 42.4 percent, adjusted for the acquisition of Vanguard Cellular Systems in May, and the October 1998 sale of AT&T’s messaging unit.
“AT&T’s strong second-quarter earnings reflect steady progress in executing our strategy,” said AT&T Chairman C. Michael Armstrong. “We met investor expectations by delivering revenue and earnings growth for the sixth quarter in a row. In fact, two of our growth businesses, AT&T Wireless and AT&T Solutions, grew revenues more than 40 percent each.”
