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News > Companies
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MCI, WorldCom 3Q EPS fall
graphic October 25, 2001: 8:30 a.m. ET

MCI long-distance unit misses target while data and Internet group hits mark.
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NEW YORK (CNNmoney) - WorldCom Inc. announced earnings in line with expectations Thursday at WorldCom Group, its data, Internet and commercial business unit, but lower profits missed forecasts for its MCI consumer long-distance service.

The telecom company, which has separate tracking stocks for the two units, posted earnings for WorldCom Group of $460 million, or 16 cents a share. That met the forecasts of analysts surveyed by earnings tracker First Call, but was down from the $780 million, or 27 cents a share, a year earlier.

The MCI unit's net income totaled $33 million, or 28 cents a share, well below the First Call forecast of 41 cents. The unit earned $49 million, or 42 cents a share, in the second quarter, when it was created with its own stock. It earned $560 million a year earlier.

Revenue at WorldCom Group rose to $5.5 billion from $4.9 billion a year earlier, but was below the First Call forecast of $5.6 billion. MCI revenue fell to $3.5 billion from $4.2 billion.

Shares of WorldCom (WCOM: Research, Estimates) lost 14 cents to close Wednesday at $12.45, while shares of MCI (MCIT: Research, Estimates) lost 90 cents to $11.60. graphic





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