Alltel Meets Earnings Estimates

Alltel (AT Quote) met analysts' first-quarter earnings expectations, but the company forecast that second-quarter income could come in at the lower range of Wall Street's estimates.

The telecommunications provider, which is based in Little Rock, Ark., said first-quarter earnings fell to $201.5 million, or 64 cents a share, from $221.9 million, or 70 cents a share, in the same period last year. According to Thomson Financial/First Call, 14 analysts expected the company to earn 64 cents a share for the quarter.

Revenue for the quarter ended March 31 rose to $1.80 billion from $1.64 billion a year ago. ...