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BellSouth beats Street
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July 21, 1998: 2:15 p.m. ET
Baby Bell says int'l business, demand for digital technology contributed to growth
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NEW YORK (CNNfn) - BellSouth Corp. is crediting the growth of its international business and the surging demand for high-speed telecommunications technology for producing better-than-expected second quarter earnings.
The Atlanta-based Baby Bell posted earnings Tuesday for the three months ended in June of $818 million, or 82 cents per diluted share -- an increase of nearly 17 percent over last year.
Analysts had expected BellSouth to earn 80 cents per share, according to First Call.
Total operating revenues grew to $5.7 million, up from $4.9 million for the same quarter in 1997.
"We're generating solid growth across all areas of our business," said Duane Ackerman, chairman and chief executive of BellSouth. "Our core telecommunications business is showing excellent growth in data services for business customers, and in additional lines and calling features for consumers."
During the quarter, the $21 billion telecommunications company's data and digital services revenues climbed to $432 million, up 44 percent over the same period last year.
Since last summer, BellSouth's international customer base also has grown 69 percent to 975,000, helped largely by the launch of the company's service in Brazil.
Wall Street reacted favorably to the news, pushing BellSouth's stock (BLS) up 9/16 to 67-3/16 on the New York Stock Exchange Tuesday afternoon. 
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BellSouth
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