AT&T reports improved profits as wireless market shows impressive growth

America’s largest telecom company AT&T Inc. has come out with their latest quarterly revenue reports and they have posted a better-than-expected rise in profits.

The company gained a lot from its Cingular Wireless joint venture and high-speed Internet services.

This good result helped the company gain in the stock market as the share price rose by around 4 percent.

Market analysts are also happy with the company’s recent performance, as they believe that AT&T has been successful in cutting costs and taking advantage of its 60 percent stake in Cingular.

The company reported that its earnings, including its stake in Cingular but excluding merger-related costs and other special items, were 58 cents a share in the second quarter. This is an improvement of around 35 percent from a year earlier in the same period.

This is also a lot better than what the market expected from the company (53 cents per share).