AT&T loses $12.7B on dropping phone revenue

By Sam Costello, IDG News Service |  Networking

AT&T Broadband, on an EBITDA basis and excluding other expense/income, goodwill and franchise impairment charges, earned $541 million for the quarter, up from $403 million in the second quarter 2001. The unit, which provides cable television, digital telephony and high-speed Internet access, brought in $2.53 billion in revenue, up from $2.30 billion in the same quarter last year.

Both Armstrong and Dorman also commented on the impact of the bankruptcy of WorldCom Inc. on AT&T.

"AT&T is performing in contrast to many of our peers. We are not distracted by investigations into our reporting practices ... or other external factors," said Armstrong.

Those distractions for its competitors will help AT&T, Dorman said, adding that AT&T has already won customers from WorldCom.

"Industry turmoil is clearly heightening AT&T's prospects," he said. "We ought to be the biggest beneficiary of (the bankruptcy)."

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