Cingular Wireless Q1 2006

Apr 19 2006 - 11:18 AM ET | Cingular

Cingular Wireless reported its first quarter earnings statement this morning. Gross additions were flat year-over-year, but churn was at its lowest rate ever which helped increase net additions. Cingular remains the largest carrier in the nation with 55.8 million customers. The most significant news for Cingular during the quarter was the announced merger between Bell South and AT&T. The two companies have joint-control of Cingular and plan to re-brand the carrier under the AT&T brand after the merger completes.

Key figures from the release include:

• Overall churn 1.9%, postpaid churn 1.6% (both are best-ever figures)
• 1.7 million net customer additions
• Revenue of $9.0 billion, up 9.1%
• Net income of 354 million
• 97% of minutes were on GSM network, 89% of customers
• Average Revenue Per User (ARPU) of 48.48, down 2.3%