New office building financing is expected to hit $1.6 billion

The financial services firm at the center of a $1 billion financing deal with the city of Austin to build the tallest office building in Texas is expected next month to report a profit of about $1,000 per share.

A report from The Wall Street Journal and Bloomberg News on Thursday showed the firm will report $1 million in earnings per share, which would represent a 26% increase from last year.

Chief Executive Officer Mark Krikorian said in a statement on Thursday that he had no immediate plans to announce the earnings report.

Austin Mayor Steve Adler said on Twitter that the company has been on a winning streak.

“Thank you to @AT&T for their incredible support of our growth and our Austin office building project,” he tweeted.

“The company’s shares have been rising in recent months, so we’re delighted to report we have a great record this year.”

Austin is planning to build a new $1-billion headquarters for AT&T in the north-west part of downtown, a move that is expected at a later date.

The company has struggled to make its first billion-dollar quarterly profit since 2007.

But the company is still building out its footprint and has seen an uptick in revenue from wireless devices.

It also has invested in several other major infrastructure projects, including the Austin Water and Sewerage District’s new transmission line to the south and the Austin Airport Authority’s new runway.

AT&P said last month that it expects its headquarters to open later this year, but it declined to say how long it will take.

The Austin tower will have a total of about 2,600 square feet and is expected by 2020 to be fully operational.

AT &T’s headquarters in New York City is shown in this illustration taken in July 2014.

Credit: Bloomberg News

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