The AP says the nations largest
Instead, AT&T will bet its future on providing telecom and data services to business, currently 75 percent of its revenue, and selling residential customers new technologies, such as phone service over the Internet.
The company will continue to serve its existing residential customers but will no longer pour roughly $1 billion a year into winning new ones, AT&T said as it reported sharply lower profits for the second quarter. Tech company earnings are pouring in faster than we can keep up with them today. Lets check in with some of the biggies. No one will be surprised to hear that Microsoft is, yes, up to its eyeballs in profits. The worlds largest software maker said Net income rose to $2.69 billion, or 25 cents a share. Revenue rose to $9.29 billion from $8.07 billion, the Redmond, Chief Executive Steve Ballmer buoyed revenue with the release in October of new Office word processing, Howbout Amazon? Glad you asked. The online retailer posted Net income of 18 cents a share compared with a net loss of $43.3 million, or 11 cents a share, a year earlier, the Chief Executive Officer Jeff Bezos, 40, added a store selling beauty items and increased the number of vendors as part of his strategy of offering a broad selection of products at low prices. Amazon.com also has added new categories to its international sites, including garden products in the UK, as well as lowering prices books there. Xilinx, the worlds biggest maker of programmable semiconductors, said Net income rose to 26 cents a share in the period ended July 3 from $46.2 million, or 13 cents, a year earlier. Sales increased to $423.6 million from $313.3 million, the San Jose company said in a statement distributed by PR Newswire. Gateway, the computer maker that hasnt had a profit since the end of 2001, said its The net loss was 91 cents a share in the quarter ended June 30, compared with $72.6 million, or 22 cents, in the same period a year ago. Sales rose to $837.6 million from $800 million,