Once more, the Bell companies' forecasts darken

By George A. Chidi, Jr., IDG News Service |  Networking

Verizon Communications Inc. is the only major regional local phone carrier to yet report a revision in estimates. However, Verizon announced earlier this month that it would take a $2.5 billion charge to write down goodwill value on some of its intangible assets and the value of some investments in accordance with new accounting rules.

The company sees no improvement in revenue this year, but didn't formally revise earlier guidance lower. In March, Verizon said it would cut its work force by about 10,000 jobs, and would cut capital expenditure to a range of $15 billion to $16 billion from previous $17.4 billion projections for the year.

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