Cingular Wireless reported that its profits trebled in the fourth quarter of 2006. Profits for the said period amounted to $782 million or $578 million more than the previous year. Revenues also went up by 10 percent, from $8.85 billion to $9.76 billion.
The company, the largest wireless carrier in the U.S., said its subscribers grew by 2.4 million in the quarter that ended in December, making it the largest increase since merging with AT&T Wireless in 2004. Of the figure, 746,000 signed up for Cingular’s prepaid service, which generates less revenue per user. Pete Ritcher, the chief financial officer at Cingular, said the company intends to offer more phones supporting more revenue-generating data services for this plan.