BellSouth Corporation
Industry: Communications Services

BellSouth Corporation is a Fortune 100 communications services company headquartered in Atlanta, Georgia, serving more than 44 million customers in the United States and 14 other countries.

Business Summary
BellSouth Corporation (BellSouth) is a communications services company. The Company operates in three segments: Communications Group, Domestic Wireless and, Advertising and Publishing Group. The Company has ownership of approximately 40% of Cingular Wireless (Cingular). The Company provides communications service in the southeastern United States, serving substantial portions of the population within Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. BellSouth also publishes telephone directories in the United States. In October 2004, Cingular purchased AT&T Wireless. The Company sold its Latin American operations to Telefónica Móviles in transactions that closed, during the year ended December 31, 2004, and early 2005. In January 2005, Telfonica Moviles, S.A. acquired all of the Company's mobile operators in Latin America with the purchase of 100% of Movicom, BellSouth's wireless operator in Argentina.

Financial Summary
BellSouth Corporation is a communications services company that serves over 45 million local, long distance, Internet and wireless customers in the United States and 13 other countries. For the 6 months ended 6/30/05, revenues increased 2% to $10.23B. Net income from continuing operations decreased 29% to $1.48B. Results reflect higher sales from the Advertising and Publishing segment, offset by increased selling, general, and administrative expenses.