EmptyAT&T gains as U-verse expands
Telecom giant AT&T continued to add subscribers to its U-verse video service in the first quarter and Tuesday reiterated its target to end 2008 with more than 1 million users. The company added 148,000 U-verse customers to end March with a total of 379,000. The update came as AT&T posted a first-quarter profit increase of 22% to $3.46 billion. Revenue rose 6.1% to $30.7 billion. Sales of Apple's iPhone, for which AT&T is the exclusive carrier, and cost savings from the acquisition of BellSouth boosted the company's fortunes. Driven by iPhone demand, AT&T added 1.3 million net new wireless users in the first quarter to end it with 71.4 million subscribers. Apple has said it plans to sell 10 million iPhones this year.
German biz hard on CinemaxX
COLOGNE, Germany — German multiplex group CinemaxX saw revenue drop 3.8% to €160.4 million ($255 million) and losses swell from €3.1 million to €5.1 million ($8.1 million) last year as fewer Germans go to the movies. There has been a steady decline in ticket sales in Germany, from a high-water mark of 178 million in 2001 to 126 million tickets sold last year — a 30% drop. CinemaxX said it was confidant 2008 would mark the end of the trend, citing hopes for upcoming titles "Sex and the City" and "Indiana Jones and the Kingdom of the Crystal Skull" as well as German films like the comedy "U 900."