AT&T Wireless (AWE) swung to a profit with a solid first-quarter performance.
The company posted earnings of $135 million, or 5 cents a share, reversing the year-ago 1-cent operating loss and the fourth quarter's 2-cent deficit. Sales in the first quarter rose 9% from a year ago to $3.95 billion. Wall Street had been anticipating first-quarter sales of $4 billion, according to Thomson First Call.
The company's outlook for the year echoed analysts' predictions, calling for sales growth of 6% to $16.5 billion. AT&T Wireless left its spending plan untouched. The company has a capital expenditure budget of $3 billion for 2003.
AT&T Wireless said it added 283,000 new customers during the latest quarter, putting its customer base 8.2% above year-ago levels.
After jumping 47 cents during regular trading, AT&T Wireless added a 21-cent postclose rise to $7.03.