WorldCom said its Internet and data revenue jumped 15% in quarter...
WorldCom said its Internet and data revenue jumped 15% in quarter ended Dec. 31 but net income for overall company plunged 44% to $726 million from $1.3 billion year ago. While continued long distance pricing pressures pinched profits, WorldCom…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
said revenue increases were driven in part by 28% year-over-year growth in data and Internet services. For 2000, international services revenue rose 29%. Based on recent restructuring, company reported financial results separated by high-growth data operations of WorldCom group and MCI Group long distance unit. For latter, revenue in quarter dropped nearly 9% to $3.8 billion from $4.2 billion year earlier. MCI Group saw growth in consumer subscription long distance and local services businesses, offset by lower revenues from transaction brands and calling card service. Services such as calling cards are seeing fall-off as more customers migrate to wireless plans, company said.