IoT
IoT
News
News
7/26/2002
02:09 PM
50%
50%
RELATED EVENTS
Core System Testing: How to Achieve Success
Oct 06, 2016
Property and Casualty Insurers have been investing in modernizing their core systems to provide fl ...Read More>>

EDS Faces WorldCom Backlash

WorldCom's tendrils pulled down EDS's second-quarter numbers in the form of a $101 million reserve the service provider had to set aside to cover money it's owed by the telecom vendor. Even so, EDS reported net income of $316 million on $5.5 billion in revenue for the quarter ended June 30, compared with $300 million in net income on revenue of $5.1 billion in the year-ago quarter.

The value of EDS's signed contracts decreased to $6.2 billion this quarter from $7 billion in the second quarter of 2001. But chairman and CEO Dick Brown says contracts are being delayed, not canceled.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.