Cingular Wireless reports 9 percent improvement in revenues

Cingular Wireless reports 9 percent improvement in revenues

Cingular Wireless is the largest mobile service provider in the United States and they have just reported their quarterly reports. The company reported that their third-quarter profit nearly quadrupled and the revenues were up by around 9%.

Cingular also witnessed a stronger-than-expected subscriber growth with a gain of around 1.4 million new subscribers. Market analysts had expected them to post a subscriber base growth of around 1.26 million customers.

The profits were up to $847 million from $222 million a year earlier. The operating revenues were up at $9.55 billion from $8.7 billion.

The company now has a customer base of around 58.7 million in the USA. Cingular Wireless said in a statement that they aim to be the industry leader in profit margins by the end of 2007.