Alltel reports improved profits though it added fewer subscribers than predicted

Alltel Corp is the largest regional wireless carrier in the U.S. and they have just come out with their quarterly report.

The company said third-quarter profit rose less than analysts estimated and they managed to add fewer subscribers than predicted.

This resulted in company’s shares taking a beating at the stock market. The share price fell as much as 6.7 percent after Alltel said net income rose 11 percent to $402.4 million.

The sales were up 12 percent to $2 billion. Alltel added 101,000 net new customers for its wireless service. This is much less compared to the market expected figures of 150,000.

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