Cingular Wireless report profits for the first quarter

Cingular Wireless report profits for the first quarter

US based telecom and mobile service provider Cingular Wireless LLC has reported that they have swung to a profit in the first quarter of the year. The are the nation’s largest cell phone service provider and have shown 9 percent increase in revenues.

Cingular Wireless reported earnings of $354 million for the three months ending March 31. This is a massive improvement from losses of $240 million in the same period a year ago.

The revenues were up to $8.98 billion. A minor improvement from $8.23 billion recorded in the same period a year ago.

Cingular Wireless reported that they ended the first quarter of the current year with a subscriber base of 55.8 million. The first three months of the year saw them adding 1.7 million new customers.

However, the average monthly revenue per user declined 2.3 percent in the fourth quarter to $48.48.