AT&T Announces Q1 Returns
As expected, earnings per share (EPS), excluding other income and a goodwill impairment charge, were $0.06 per diluted share in the first quarter, a decrease of 82.4 percent compared to the $0.34 per diluted share from the year-ago quarter. On a reported basis, AT&T Common Stock Group lost $0.10 per diluted share compared to earnings per diluted share of $0.54 for the first quarter of 2000.
"Our business, along with others in the industry, continues to feel the impact of declines in long distance voice revenue. At the same time, we're focused on managing for profitability, paying down debt and executing on the strategic investments we've made in our next generation of end-to-end broadband businesses," said Chairman and CEO C. Michael Armstrong.