AT&amp;T Posts $7.1 Billion Loss for the 3Q
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AT&amp;T Corp. swung to a third-quarter loss of $7.12 billion after recording huge charges related to the company&#39;s retreat from traditional telephone services, which has included at least 7,500 more job cuts
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NEW YORK, Oct. 21 -- AT&T Corp. reported a third-quarter loss of $7.12 billion Thursday because of huge charges resulting from the company's retreat from traditional telephone services, which included at least 7,500 more job cuts and a write-down in the value of the company's long-distance network.
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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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BellSouth Corp. BLS.N on Monday  said third-quarter earnings fell due to storm damage in its  region and costs stemming from Cingular Wireless' planned $41  billion purchase of AT&T Wireless Services Inc. AWE.N.
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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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WASHINGTON  - AT&T Corp. on Thursday reported a $7.1 billion third-quarter loss due to an $11.4 billion writedown of its assets after its retreat from consumer services and other restructuring charges.
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The phone company reported a fourth-quarter loss of $11.1 million as it scaled back on marketing and cut other costs.
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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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AT&amp;T Corp. announced Thursday that it is cutting at least 7,500 more jobs and slashing the value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan to retreat from the traditional consumer telephone business.
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Losses ballooned to $207.3 million for the third quarter, driven by lower extended warranty sales and restructuring costs.
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NEW YORK  - AT&T Wireless Services Inc.  said on Tuesday its third-quarter profit declined as customers spent less per month, offsetting a rise in net new customers.
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MARLBOROUGH, Mass. -- 3Com Corp. posted a narrower net loss in its latest quarter amid a sharp drop in operating expenses. For the fiscal first quarter ended Aug. 27, the maker of computer-networking equipment
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Qwest Communications International Inc. on Thursday reported a third-quarter loss, citing charges and lower revenue. The provider of voice, video and data services posted a quarterly loss of $569 million, or
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The medical device maker reported a third-quarter loss of $272 million on charges related to acquisitions and asset sales, as the companyâs top-selling stent continued to slump.
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MCI Inc. Thursday reported a loss of $3.4 billion during its third quarter, reflecting its recent decision to write down the value of its telecommunications network. -The Washington Post
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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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The company said its net loss in the fiscal third quarter ended Dec. 1 was $84.8 million, or 12 cents a share, compared with a net profit of $1.1 million.