ATLANTA-BellSouth Corp. reported fourth quarter revenues of $6.2 billion in 1998 compared
with $5.6 billion in fourth quarter 1997.
The company had net earnings of $831 million, or 42 cents per share, for
fourth quarter 1998, compared with $715 million, or 36 cents per share, for the same period last year. The figures
represent earnings before special items and/or one-time gains, said the company.
BellSouth also reported its
customer base grew 18.6 percent in 1998, adjusted for the fourth quarter restructuring of its cellular partnerships in Los
Angeles and Houston. Domestic cellular and personal communications services revenue in the fourth quarter increased
7 percent to $707 million, compared with $661 million last year.
BellSouth had announced earlier in January it
expected to record a foreign exchange impact on earnings as a result of the currency devaluation in Brazil.
The
company said it remains strongly committed to Brazil and Latin America.
“Latin America is the growth
region in the world for the next decade,” said Duane Ackerman, chairman and chief executive officer of
BellSouth. “We have more than 10 years of operating experience in the region during which there have been
periods of economic fluctuations.”
