Reminds me of another Telco - Debt and revenue is on par ......
WorldCom Inc. lowered its earnings and revenue guidance Wednesday for the fourth quarter and for 2001, while also unveiling plans that will split the firm in two and resend the former MCI long-distance business back into the public marketplace.
WorldCom also emerged as the second telecom to restructure in the past week, following declines in its core businesses. The nation's second-largest long-distance provider will create two new tracking stocks to reflect its Internet backbone business and its troubled consumer long-distance telephone business.
WorldCom said Wednesday it expects fourth-quarter earnings of 34-to-37 cents a diluted share, excluding goodwill amortization. Analysts surveyed by earnings tracker First Call had forecast earnings of 49 cents a share.