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Friday, 20 April, 2001, 21:11 GMT 22:11 UK
AT&T issues earnings warning
AT&T boss Michael Armstrong
More trouble for AT&T boss Michael Armstrong
The number one US telecoms firm AT&T has warned that its troubled internet service provider Excite@Home will drag down its first quarter earnings by up to $320m.

The phone firm, already battered by price wars, has plans to demerge into four separate units which it will try to grow.

AT&T, which owns about a quarter of the internet service provider, will report its first quarter results on Tuesday.

In a filing with the US stock market regulator, the Securities and Exchange Commission, AT&T on Thursday said it would post a charge of up to $780 million against Excite@Home losses.

Excite@Home blamed a slump in advertising revenue for its falling earnings.

The company also spent money quicker than it had anticipated.

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See also:

20 Apr 01 | Business
BT 'to ditch AT&T venture'
25 Oct 00 | Business
Shake-up at AT&T
26 Feb 01 | Business
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