AT&T - Company Financial Information - Brief Article

CommunicationsWeek International, Nov 15, 1999

AT&T saw third-quarter earnings fall by 18% to $1.63 billion from $1.99 billion a year earlier. Revenue in the third quarter grew by 19% to $16.27 billion from $13.65 billion a year earlier. The U.S. telecoms giant's profits were largely hit by a decline in long-distance pricing and higher-than-expected costs from the integration of cable group TeleCommunications Inc.

Separately, the final hurdle to the planned joint venture between AT&T and BT was cleared when the U.S. regulator, the Federal Communications Commission, approved the deal, subject to "limited conditions." Approval has already been given by the European Commission and the U.S. Department of Justice.