Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
AT&T swung to a US$4 billion net loss in the fourth quarter of last year, in no small part due to previously announced non-cash charges, but the U.S. telco was upbeat about its mobile customer additions and new focus in Mexico.
The operator’s net loss for the three months to the end of December compared with a profit of $6.9 billion in the year-ago quarter. Its bottom line was hit by charges totalling $10 billion relating to its pension and benefit schemes and the decommissioning of certain network assets. The company was also hit by a loss on the sale of wireline operations in Connecticut.
But revenues were up 3.8% to $34.4 billion, driven by the telco’s mobile business, which contributed $19.9 billion, an increase of 7.7%.
AT&T added 1.9 million mobile connections during the quarter to take its total base to 120.6 million, including reseller customers and connected devices. Its closely-watched postpaid net additions came in at 854,000. Original post at Total Telecom