Cash Flow Declines at AT&T Broadband.(AT and T Broadband and Internet Services)(Statistical Data Included)
Multichannel News, November, 1999 by ESTRELLA, JOE
AT&T Broadband & Internet Services last week reported a 2.2 percent decline in third-quarter cash flow, with flat growth projected for the rest of year. C. Michael Armstrong, chairman of parent AT&T Corp., dismissed speculation that telephone-over-cable plans had been dealt a setback.
Eight telephony pilot programs are underway, he noted, with plans to "scale to market" by 2001. In reporting third-quarter earnings, acting AT&T Broadband president Daniel Somers said cash flow, or earnings before interest, taxes and amortization (EBITA), totaled $539 million for the period ended Sept. 30, down from $551 million a year ago. AT&T also reported a 4.5 percent dip in the parent company's third-quarter operating profit, attributing the decrease to...
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