BellSouth reported Q3 revenue of $5.2 billion, up 2.9 percent compared to the same quarter of 2005. Income from continuing operations was approximately $1.1 billion, up 29.6 percent compared to the same quarter of the previous year. Earnings per share (EPS) from continuing operations of 58 cents, up 31.8 percent compared to the third quarter of 2005. Normalized EPS from continuing operations of 65 cents increased 27.5 percent compared to the third quarter of 2005.
Some highlights from Q3 2006:
- Communications Group revenues were $4.7 billion, a 2.4 percent increase over the third quarter of 2005. Adjusting for the one-time customer credits of $44 million issued during the third quarter of 2005, revenue growth was 1.4 percent.
- Network data revenues exceeded $1.3 billion, a 12.8 percent increase over the third quarter of 2005, due to improvements in both retail and wholesale data services. Retail data revenues grew 19.5 percent year-over-year driven by retail DSL revenues, while wholesale data revenues grew 3.3 percent as growth in wireless transport more than offset declines in general transport services.
- BellSouth added 176,000 new DSL customers, reaching a total of more than 3.4 million.
- BellSouth added 118,000 long distance subscribers, giving it 7.6 million long distance customers representing approximately 63 percent of its mass-market customer base.
- Nearly 65,000 customers added DIRECTV service to their bundle, resulting in a total of 756,000 customers.
- As of Sept. 30, 2006, total access lines were 19.0 million down 6.9 percent year-over-year.
- For the quarter, total access lines declined 301,000. Retail residential access lines declined 135,000 reflecting losses to wireless substitution and cable telephony service. Retail small business access line gains were 20,000, offset by a decline in retail large business access lines of 13,000 lines. Wholesale lines declined 174,000 compared to June 30, 2006.
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