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Telecom giant posts big loss

Thursday, Oct. 23, 2003 | 9:19 a.m.

KANSAS CITY, Mo. -- Telecommunications giant Sprint Corp. lost $498 million in the third quarter in contrast to a profit a year ago, as both its wireless and wireline divisions reported losses.

Sprint said today its loss for the three months ended Sept. 30 reflected the consolidation of its two businesses that are traded separately on the New York Stock Exchange. Its consolidated profit amounted to $519 million a year ago.

Sprint, the main local phone company in Las Vegas, said consolidated revenue slipped to $6.7 billion from $6.8 billion a year ago.

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