Profits Stumble by 47 Percent at AT&T.

Knight Ridder/Tribune Business News,  April, 2004  

Tags: AT&T Corp., Hackensack

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By Martha McKay, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Apr. 23--AT&T recorded a dismal 47 percent decline in quarterly profits as competition and pricing pressure hurt sales.

Revenues fell 11 percent.

The nation's largest long-distance carrier did manage to beat analysts' estimates, and its earnings in the first quarter remained in the black.

But the doldrums continue for Bedminster-based Ma Bell as it loses ground to competition from other long-distance carriers, wireless, and technologies such as e-mail.

"AT&T continues to ...

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