BellSouth Earnings Rise 27 Percent
Apr. 20, 1998
ATLANTA (AP) _ BellSouth Corp. on Monday reported first-quarter diluted earnings per share of 89 cents, a 27 percent increase, and net income of $892 million, up 29 percent over the previous year.
The telecommunications company said an 83 percent increase in its international wireless business and continued growth in its home region _ the Southern United States _ contributed to the results.
The quarterly income included an after-tax profit of $96 million from the July 1997 sale of BellSouth's investment in ITT World Directories. Without the one-time gain, the diluted earnings per share would have been 80 cents, compared with 70 cents for the first quarter of 1997.
Revenues for the recent quarter were $5.43 billion, up from $4.84 billion the previous year.
``Our strong first quarter proves that high quality services for customers produce high quality earnings,'' said Duane Ackerman, chairman and chief executive officer. ``As data, wireless and international contribute more to our earnings growth, customer service will continue to be the common denominator that drives our financial performance.''
BellSouth provides telecommunications, wireless communications, directory advertising and publishing, video, Internet and information services to nearly 30 million customers in 20 countries.