AT&T Reports 3Q Profit of $3.1 Billion

SAN ANTONIO - AT&T Inc., the nation's largest telecommunications company, on Tuesday reported net income of $3.1 billion in the third quarter, a 42 percent jump from the previous year before its acquisition of BellSouth Corp. was completed.

The profit, which amounted to 50 cents per share, compared with $2.2 billion earned in the July-September period last year. The year-earlier earnings worked out to 56 cents a share because the company had fewer shares outstanding.

Revenue nearly doubled to $30.1 billion in the third quarter from $15.6 billion a year earlier.

Excluding costs and accounting effects of major acquisitions, the company's earnings per share …