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Profits Stumble by 47 Percent at AT&T.

The Record (Hackensack, NJ)

| April 23, 2004 | COPYRIGHT 2004 The Record. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Martha McKay

Apr. 23--AT&T recorded a dismal 47 percent decline in quarterly profits as competition and pricing pressure hurt sales.

Revenues fell 11 percent.

The nation's largest long-distance carrier did manage to beat analysts' estimates, and its earnings in the first quarter remained in the black.

But the doldrums continue for Bedminster-based Ma Bell as it loses ground to competition from other long-distance carriers, wireless, and technologies such as e-mail.

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