SBC Communications Q1 Earns $1.7 Billion
4/18/02
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Boston, Apr 18, 2002 (MidnightTrader via COMTEX) -- SBC Communications Inc. (SBC) this morning announced first-quarter earnings of $1.7 billion, or $0.51 per diluted share, before the effect of a required accounting change. This compares with earnings in the first quarter a year ago of $1.7 billion, or $0.51 per diluted share, before one-time items, and $1.9 billion, or $0.55 per diluted share, including one-time items. Revenue totaled $12.6 billion compared with $13.1 billion in the year-ago period. Analysts were expecting the company to report earnings of $0.51 per share on revenue of $13.2 billion, according to First Call.
SBC also reaffirmed full-year EPS growth, before special items, in the 5 percent to 7 percent range. First Call consensus is for $2.42 per share. The stock is slipping 1.45 percent this morning on Instinet.
Price: 34.00, Change: -0.50, Percent Change: -1.45%
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