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AT&T rises: AT&T Corp. reported a 58 percent rise in fourth-quarter profit, benefiting from cost cuts, strong demand for its mobile-phone services and one-time accounting gains.The profit increase, which matched Wall Street forecasts, came despite another drop in the telecommunications giant’s long-distance phone sales, which continue to be hit by competition from lower-cost providers of service. AT&T said it earned $2.0 billion, or $1.12 a share on a diluted basis, in the three months ended Dec. 31. That was up from a profit of $1.26 billion, or 70 cents a diluted share, in the year-ago quarter. Revenues rose 4.8 percent to $13.53 billion from $12.90 billion.
