AT&T reported net income of $108 million, or 14 cents a share, for the second quarter, compared with net income of $536 million, or 68 cents a share, in the second quarter of 2003. Revenue for the period was $7.6 billion, down 13.2% from a year earlier.
âWhile nearly 75% of our revenue now comes from AT&T Business, the AT&T brand has been known throughout the world as a premiere consumer telecom provider,â said David Dorman, AT&T chairman-CEO, during a conference call with investors Thursday.
âHowever, we determined that without the support of the regulatory environment to allow for evolution to facilities-based competition, our focus for the future needs to be the business market, where we have clear and differentiated advantages versus our traditional IXC [interexchange carrier] competitors and the RBOCs [regional Bell operating companies].â
Dorman said AT&T will no longer invest in acquiring consumer local and standalone long-distance accounts, and will concentrate instead on business markets and emerging technologies such as Voice over Internet Protocol.