|
BellSouth revises 2Q, 3Q
|
 |
December 3, 1999: 6:39 p.m. ET
Atlanta-based Bell lowers income by total of 11 cents; still on track for all of 1999
|
NEW YORK (CNNfn) - Regional phone company BellSouth Corp. said Friday it’s lowering its income for its two most recent quarters by a total of 11 cents a share to better account for a wireless network upgrade.
However, BellSouth (BLS) said it still expects earnings growth of 19 to 21 percent for all of 1999. Analysts polled by First Call Corp., a research firm, expect the company to post earnings of $2 a share this year.
The Atlanta-based Baby Bell said it’s taking a non-cash after-tax charge of $187 million, or 10 cents a share, in the second quarter 1999. BellSouth said it will also lower by a penny per share its third quarter earnings to account for a depreciation expense.
The charges are tied to BellSouth’s accounting treatment of a contract with the Swedish mobile telephone company Ericsson (ERICY) for network equipment in 14 wireless markets.
Shares of BellSouth, one of the most widely held stocks in the nation, closed up 1-7/8 to 47-1/2 on the New York Stock Exchange Friday. The shares were unchanged in after-hours trading. 
|
|
|
|
|
|
BellSouth
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
