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AT&T Wireless posts loss
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January 29, 2002: 6:39 a.m. ET
Service provider's shortfall wider than expected; revenue up.
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NEW YORK (CNN/Money) - AT&T Wireless Services posted a fourth-quarter loss Tuesday that was wider than Wall Street had expected even while sales jumped nearly 19 percent.
The Redmond, Wash.-based cellular phone service provider said it lost $355 million, or 14 cents a share, from continuing operations, compared with earnings of $488 million, or 18 cents a share, a year earlier. Analysts surveyed by research firm First Call anticipated a loss of 6 cents a share.
Sales rose to $3.53 billion from $2.97 billion.
The company, a spinoff of telecom service provider AT&T (T: Research, Estimates), also said it expected 2002 growth in services revenue -- the lion share of its total sales -- of less than 10 percent.
AT&T Wireless (AWE: Research, Estimates) shares rose 11 cents to $11.75 Monday. 
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