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twitterCommunications giant posts $1.7 billion loss
Monday, Jan. 29, 2001 | 10:44 a.m.
THE ASSOCIATED PRESS
NEW YORK -- AT&T Corp. closed out a dismal year with a fourth-quarter loss of $1.7 billion and a 50 percent drop in operating profits, mostly due to costs from its ExciteAtHome and MediaOne cable units.
The loss for the final three months of 2000 amounted to 45 cents per share. In the fourth-quarter of 1999, AT&T posted a net profit of $1.15 billion, or 36 cents per share.
AT&T, the nation's largest long-distance and cable TV carrier, plans to split into three separate companies.
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