AT&T, Lucent bleed $20 billion
AT&T posted a US$12.7 billion second-quarter loss Tuesday, a result of a $13.1 billion write-down in the value of its cable TV unit, which is being sold to Comcast. Excluding that charge, the company posted a profit of $0.07 per share, slight ahead of expectations. Revenues declined 6.2 percent from the year-ago quarter, to $12.1 billion.
Read More