**Exhibit 11**

**BellSouth Corporation**

**Computation of Earnings Per Share**

**(Dollars in Millions)**

                
|                                                                                             | For the Three Months Ended

  March 31, |
|--------------------------------------------------------------------------------------------------|---------------------------------------------------|
|                                                                                             | 2005                                              | 2006 |
|                                                                                             |                                              |   |
| **EARNINGS PER SHARE – BASIC:**                                                             |                                              |   |
|                                                                                             |                                              |   |
| Income From Continuing Operations                                                                | $   683                                           | $ 784 |
|                                                                                             |                                              |   |
| Discontinued Operations, net of tax                                                              | 381                                               | — |
|                                                                                             |                                              |   |
| Net Income                                                                                       | $   1,064                                         | $ 784 |
|                                                                                             |                                              |   |
| Weighted Average Shares Outstanding                                                              | 1,831                                             | 1,797 |
|                                                                                             |                                              |   |
| Earnings Per Common Share From Continuing Operations                                             | $    0.37                                         | $ 0.44 |
|                                                                                             |                                              |   |
| Discontinued Operations                                                                          | 0.21                                              | — |
|                                                                                             |                                              |   |
| Earnings Per Share                                                                               | $  0.58                                           | $ 0.44 |
|                                                                                             |                                              |   |
|                                                                                             |                                              |   |
| **EARNINGS PER SHARE – DILUTED:**                                                           |                                              |   |
|                                                                                             |                                              |   |
| Income From Continuing Operations                                                                | $   683                                           | $  784 |
|                                                                                             |                                              |   |
| Discontinued Operations, net of tax                                                              | 381                                               | — |
|                                                                                             |                                              |   |
| Net Income                                                                                       | $   1,064                                         | $  784 |
|                                                                                             |                                              |   |
| Weighted Average Shares Outstanding                                                              | 1,831                                             | 1797 |
|                                                                                             |                                              |   |
| Incremental shares from assumed exercise of stock options and payment of restricted stock awards | 5                                                 | 7 |
|                                                                                             |                                              |   |
| Diluted Shares Outstanding                                                                       | 1,836                                             | 1804 |
|                                                                                             |                                              |   |
| Earnings Per Common Share From Continuing Operations                                             | $   0.37                                          | $  0.43 |
|                                                                                             |                                              |   |
| Discontinued Operations                                                                          | 0.21                                              | — |
|                                                                                             |                                              |   |
| Earnings Per Share                                                                               | $  0.58                                           | $  0.43 |