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7/25/2002
02:55 PM
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AT&T Loss Isn't So Bad

AT&T appears to be on solid financial footing despite reporting a $12.7 billion loss last week for its second quarter, ended June 30. The loss resulted from $13.1 billion in charges AT&T took to reflect lower valuation of its broadband cable-TV business. Revenue came in at $12.1 billion, down 8.7% from the same quarter a year ago, mainly because of declines in AT&T's long-distance voice business, offset by increases in data, IP, and managed services.

"AT&T is looking pretty solid, despite the losses," says Kate Gerwig, principal analyst at Current Analysis. "If you're looking for stability, then AT&T's one of the top telecom companies out there right now."

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