Worldcom net tops estimates but stock price fails to climb

Article Abstract:

Worldcom exceeded Wall Street expectations by announcing 3rd qtr 1997 earnings of $112.4 million, or 12 cents a share. Analysts had predicted an average share gain of 11 cents, according to those surveyed by First Call. By comparison, the telecommunications carrier reported a 3rd qtr 1996 loss of $53 million, or 7 cents a share. The results did not raise Worldcom's share value, which has lost up to 20% recently in a volatile market. Worldcom's $30 billion all-stock offer to acquire MCI now has fallen to about $29 billion, according to the Oct 30, 1997, closing share price. The fluctuating stock value creates uncertainty among MCI shareholders. Other MCI suitors are BT's $19 billion offer in stock and cash, plus GTE's $28 billion all-cash bid. Worldcom reported a 38% increase in continuing operations network traffic, plus a 111% raise in Internet operations revenue to $147.1 million.

Telecommunications, Telephone Communication, Finance, WCOM, Company sales and earnings, MCI Inc., Company Sales/Revenue, Company Earnings/Profit

---

At last, a new strategy for AT&T; C. Michael Armstrong hopes to turn the long-distance giant-again-into the only communications company you need

Article Abstract:

After approval of AT&T's merger with Tele-Communications Inc., AT&T president C. Michael Armstrong plans to market a "communications" package to consumers that will provide them with Internet access as well as long-distance services and someday even local telephone service. After years of talking to cable companies AT&T finally agreed not go into the "content" business of cable, but use their cables to offer services other than television. AT&T will begin to telemarket their new line of bundled products to consumers as soon as the merger is approved. Under the leadership of Armstrong, AT&T will be a huge force in the telecommunications business and the first to use cable for television, telephone and Internet communications.

United States, Strategy & planning, COMMUNICATION, Communications, Broadcasting and Telecommunications, Management, Planning, Internet service providers, Marketing, AT&T Corp., T, Company marketing practices, Company business planning, Armstrong, C. Michael, AT&T Broadband and Internet Services Inc., TCOMA

---

Similar abstracts:

• Abstracts: Among Britons, name of AT&T rings few bells. AT&T to buy Teleport for $11.3 billion: investors, analysts applaud long-distance giant's local-phone strategy
• Abstracts: Sale of FCC licenses in several states nets budget pocket change; public airwaves went cheap after Congress pushed agency for fast auctions; McLeod bags four for $4
• Abstracts: Microsoft billionaire buys Dallas cable-TV operator: Paul Allen's first foray into 'wired world.' (Marcus Cable) (Company Business and Marketing)
• Abstracts: Companies offer a new service to back up files. Caution for babes in Disney's woods. Computerized translations: ok, but not parfait
• Abstracts: Despite U.S. ban, Russia buys I.B.M. computers for atomlab. I.B.M. names Gerstner associate as new counsel

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.