By Will Sturgeon, 25 April 2002 08:13
NEWS AT&T has added to the malaise over the telecoms sector by warning revenues for the coming quarter will be down on expectations. Revenues for the first quarter were down 8.4 per cent, ahead of analysts' more pessimistic predictions, to $12.02bn, and the company warned its telecoms business and cable television division are likely to see a similar level of decline in the months to come. For the first quarter AT&T reported losses of $975m - 28 cents per share - compared with $373m - 10 cents per share - for the comparable period last year. The one positive note on the books was the continued rising revenues at AT&T Broadband - the unit which is being sold off to US cable operator Comcast for $72m.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below