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Associated Press
Update 5: Cingular Posts Loss Despite Revenue Growth
04.20.2005, 04:45 PM
Cingular Wireless LLC, the nation's largest cell phone provider, reported a $240 million loss in the first quarter despite solid growth in subscribers and revenue. It also said Wednesday it cut 1,500 to 1,600 employee jobs in the three-month period.
The loss reported by the Atlanta-based joint venture of BellSouth Corp. and SBC Communications Inc. for the three months ending March 31 compares to a profit of $215 million for the same period a year ago. The year-ago figure assumes Cingular and AT&T Wireless Services Inc. were a single company, although Cingular's $41 billion purchase of AT&T Wireles...
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Associated Press
Update 5: Cingular Posts Loss Despite Revenue Growth
04.20.2005, 04:45 PM
Cingular Wireless LLC, the nation's largest cell phone provider, reported a $240 million loss in the first quarter despite solid growth in subscribers and revenue. It also said Wednesday it cut 1,500 to 1,600 employee jobs in the three-month period.
The loss reported by the Atlanta-based joint venture of BellSouth Corp. and SBC Communications Inc. for the three months ending March 31 compares to a profit of $215 million for the same period a year ago. The year-ago figure assumes Cingular and AT&T Wireless Services Inc. were a single company, although Cingular's $41 billion purchase of AT&T Wireles...
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