To be honest, this is a little shocking to me. Nevertheless, SBC is seeing some profit decline despite the onslaught of marketing messages through TV advertising we have seen lately here in the States.

SBC Communications said yesterday that its profit slipped 41 percent in the third quarter partly because its wireless unit, Cingular, had higher costs related to hurricanes and its merger with AT&T Wireless.

Over all, SBC earned $1.24 billion, or 38 cents a share, in the July-September period, a drop from $2.09 billion, or 63 cents a share, in the 2004 quarter.

Revenue hit $10.3 billion, up 0.3 percent compared with the period a year earlier.

The decline was magnified because in the third quarter of 2004, SBC sold a directory business that led to a hefty gain. [Read the rest]

[tags]cingular,business,sbc,profits,at&amp,t wireless[/tags]