AT&T posts $7.1 billion loss on impairment charge
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AT&T Corp. on Thursday reported a net loss of $7.1 billion, or $8.95 per share, for the third quarter of 2004, but that loss included asset re-evaluation and other charges of $12.5 billion.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut about 7,000 jobs and reduce the value of its assets by $11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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US telecoms giant AT& T has announced that it plans to cut its workforce by 20% this year, axing a further 7,000 jobs.
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The recording company reported a first-quarter loss of $16 million, hurt by higher expenses and an impairment charge.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut another 7,400 jobs and reduce the value of its assets by $11.4 billion, spurred by its retreat from traditional consumer
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Blockbuster Inc. BBI.N on Wednesday  posted a $1.42 billion quarterly loss due to large impairment  charges prompted by Viacom Inc.'s VIAb.N spin-off of the  video chain and also said its chief operating officer was  resigning.
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The telecommunications giant finished its first full year as a merged company with a net loss of 3.52 billion euros, or $5.1 billion, mostly on charges, and it predicted a loss for the current quarter.
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AT&T Corp. on Thursday reported a &#36;7.1 billion third-quarter loss due to an &#36;11.4 billion writedown of its assets after its retreat from consumer services and other restructuring charges.
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Struggling chip-maker Advanced Micro Devices Inc. said Thursday its fourth-quarter net loss widened, partly due to a huge goodwill impairment charge related to its $5.6 billion acquisition of graphics chip-maker ATI Technologies Inc.
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AT&T Corp.  will cut about 7,000 jobs and reduce the value of its assets by &#36;11.4 billion due to its retreat from traditional consumer telephone services, the company said on Thursday.
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Advanced Micro Devices , the world's second-largest maker of computer microprocessors, posted a wider quarterly net loss on Thursday due to a $1.68 billion charge related to its purchase of graphics chipmaker ATI.
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Top U.S .phone company AT&T Inc  said on Monday that it was ordered to pay $156 million after losing a jury verdict in a patent infringement case brought by TGIP Inc.
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Microsoft Corp. on Thursday lost the first of six patent lawsuits brought by Paris-based telecom equipment maker Alcatel-Lucent, and a federal district court jury set damages at $1.5 billion.
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Motorola posted a loss from continuing operations of $38 million, or 2 cents a share, compared with a profit of $1.35 billion, or 54 cents per share, a year earlier.
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Boeing Co.  on Wednesday  reported a quarterly loss as it took $1.1 billion of charges to  settle government investigations into its defense unit and to  cover the costs of delayed surveillance aircraft.
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For the period that ended Dec. 31, the company reported a loss of $16 million, or 11 cents a share, in contrast to a profit of $18 million, or 12 cents a share, in the period a year earlier.
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Advanced Micro Devices on Thursday reported a heavy loss for its fourth quarter, due mostly to charges connected to its acquisition of graphics chip maker ATI.