BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
E-Commerce 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 

Thursday, 8 February, 2001, 18:30 GMT
Worldcom profit drops 44%
Worldcom logo
Worldcom's lower results were expected by market analysts, but investors still wonder what awaits them
Telecoms giant Worldcom met analyst expectations on Thursday although its quarterly profits were well down on the year before's.

Worldcom said its profit during the last three months of 2000 was $710m (481m), or 25 cents (17 pence) a share.

That was significantly lower than year earlier totals of $1.3bn, or 44 cents a share, even as the company brought in more money.

The latest results matched Wall Street predictions, as supplied by First Call/Thomson Financial, a market-analysis firm.

Major restructuring

Now Worldcom must wrestle with a restructuring that will nearly undo its acquisition of MCI Communications in 1998 - a process similar to that underway at its rival, AT&T.

Worldcom, AT&T and other long-distance carriers have seen their profits ebb in recent years as increased competition chipped away at their core business.

"Since announcing our intention to separate the company's businesses... Worldcom has made excellent progress," said chief executive Bernard J Ebbers in a statement accompanying the firm's results.

Mr Ebbers said the company has already completed its reshuffling of some of its operations in its internet, data and international services divisions.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
See also:

07 Feb 01 | Business
Orange share price cut
06 Feb 01 | Business
Telecom Italia in investor row
28 Sep 00 | Business
Worldcom tests merger decision
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories