SAN ANTONIO-SBC Communications Inc. reported continued strong growth in data services and contributions from Cingular Wireless, its wireless joint venture with BellSouth Corp., combined to increase fourth quarter 2000 revenues 9 percent to $14.1 billion compared with the same quarter in 1999.
Reported operating revenues, including one-time items, dropped from $12.9 billion during the fourth quarter of 1999 to $12.2 billion in 2000. Net income, including one-time items, also fell from $3.1 billion in 1999 to $1.3 billion in 2000, with diluted earnings per share falling from 90 cents per share in 1999 to 38 cents per share last year.
For the year, SBC reported an increase in operating revenue from $49.5 billion in 1999 to $51.5 billion in 2000. Net income dropped for the year from $8.1 billion in 1999 to $7.9 billion, with earnings per share falling from $2.36 per share in 1999 to $2.32 per share last year.
Cingular Wireless, which began service at the beginning of the quarter, posted a net gain of 814,000 subscribers, bringing the company’s wireless customer base to 19.7 million subscribers. Wireless service revenues increased 17 percent to $3 billion compared with the fourth quarter of 1999.
