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July 22, 1994

AT&T SHOWS THE WAY WITH 8.7% INCREASE IN QUARTER, MAKING THE COMPANY WAY BIGGER THAN IBM

By CBR Staff Writer

AT&T Corp shows that big companies can still grow, and it is now bigger than IBM Corp, doing $17,730m in the second quarter, up 8.7%. Global Information Solutions, which is the silly new name for the computer business, did a storming $2,010m in sales, an 11% increase, and made an operating profit of $14m, up from $5m a year ago – not anything to write home about, but at least it is a profit. Revenues also increased for all types of network equipment, but were particularly strong for wireless products and transmission systems. Sales to US telephone companies rose; international revenues jumped more than 30%. Sales of microelectronic components outside the US were also up significantly. Long distance telecommunications services rose 5% to $10,340m.

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