BellSouth reports improved profits as it gains from Cingular

BellSouth reports improved profits as it gains from Cingular

BellSouth Corp. is the America’s third biggest telecom service provider and they have posted impressive profit results. The company has gained from their joint venture with Cingular and has seen growth in the cellphone and high-speed Internet services market.

The company was recently acquired by AT&T Inc. (NYSE:T) which brought them and Cingular under the same roof. This deal is expected to be closed by the end of the current year. The company’s profit rose to $983 million, or 54 cents a share, for the figures of $818 million, or 45 cents a share a year earlier.

The revenues were up at $8.68 billion. This is an improvement of 4% compared to the last year. Both these figures are better than what the market expected from the company. Reuters Estimates had forecasted earnings per share of 53 cents on revenue of $8.64 billion.

AT&T and Verizon are due to come out with their revenue reports in the coming days.