Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: EL KABONG!!! who wrote (39888)	10/21/2003 6:34:37 PM
From: elmatador	Read Replies (1) of 74559

Sales Erosion Wears Thin at SBC, AT&T By Scott Moritz Senior Writer 10/21/2003 11:18 AM EDT Wall Street showed its scorn for two big names in telecom Tuesday, as it surveyed a bleak landscape at erosion-scarred AT&T and SBC. First up was AT&T, the New York long-distance giant that has emerged as perhaps the most feckless participant in a years-long industrywide downhill sales slalom. The company surprised no one by noting a 16% decline in third-quarter revenue at its staggering consumer business. SBC's 3Q Profit Fell 29%, Hurt by Landline Phone Business Tuesday October 21, 10:25 am ET SAN ANTONIO -- SBC Communications Inc.'s third-quarter profit fell 29% as the company continued to face erosion in its main telephone business and higher costs. SBC on Tuesday reported net income of $1.22 billion, or 37 cents a share, compared with year-earlier net of $1.71 billion, or 51 cents a share. Keep away from telcos, KJC!

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