**Exhibit 11**

**BellSouth Corporation**

**Computation of Earnings Per Share**

**(Dollars in Millions)**

                
|                                                                                             | For the Six

  Months Ended

  June 30, |
|--------------------------------------------------------------------------------------------------|-------------------------------------------------------------|
|                                                                                             | 2005                                                        | 2006 |
|                                                                                             |                                                        |   |
| **EARNINGS PER SHARE – BASIC:**                                                             |                                                        |   |
|                                                                                             |                                                        |   |
| Income From Continuing Operations                                                                | $   1,478                                                   | $ 1,671 |
|                                                                                             |                                                        |   |
| Discontinued Operations, net of tax                                                              | 381                                                         | — |
|                                                                                             |                                                        |   |
| Net Income                                                                                       | $   1,859                                                   | $ 1,671 |
|                                                                                             |                                                        |   |
| Weighted Average Shares Outstanding                                                              | 1,831                                                       | 1,802 |
|                                                                                             |                                                        |   |
| Earnings Per Common Share From Continuing Operations                                             | $    0.81                                                   | $ 0.93 |
|                                                                                             |                                                        |   |
| Discontinued Operations                                                                          | 0.21                                                        | — |
|                                                                                             |                                                        |   |
| Earnings Per Share                                                                               | $  1.02                                                     | $ 0.93 |
|                                                                                             |                                                        |   |
|                                                                                             |                                                        |   |
| **EARNINGS PER SHARE – DILUTED:**                                                           |                                                        |   |
|                                                                                             |                                                        |   |
| Income From Continuing Operations                                                                | $   1,478                                                   | $  1,671 |
|                                                                                             |                                                        |   |
| Discontinued Operations, net of tax                                                              | 381                                                         | — |
|                                                                                             |                                                        |   |
| Net Income                                                                                       | $   1,859                                                   | $  1,671 |
|                                                                                             |                                                        |   |
| Weighted Average Shares Outstanding                                                              | 1,831                                                       | 1,802 |
|                                                                                             |                                                        |   |
| Incremental shares from assumed exercise of stock options and payment of restricted stock awards | 4                                                           | 7 |
|                                                                                             |                                                        |   |
| Diluted Shares Outstanding                                                                       | 1,835                                                       | 1,809 |
|                                                                                             |                                                        |   |
| Earnings Per Common Share From Continuing Operations                                             | $   0.81                                                    | $  0.92 |
|                                                                                             |                                                        |   |
| Discontinued Operations                                                                          | 0.21                                                        | — |
|                                                                                             |                                                        |   |
| Earnings Per Share *                                                                             | $  1.01                                                     | $  0.92 |

 

* - 2005 does not sum due to rounding.