AT&T see profits hit by competition, new technologies

US long distance phone company AT&T has reported a dive in net profits in the first quarter, as increasing competition put a downward pressure on prices.

AT&T see profits hit by competition, new technologies
Thu, 22 Apr, 2004 - 22:11

US long distance phone company AT&T has reported a dive in net profits in the first quarter, as increasing competition put a downward pressure on prices.

In the first three months net profits came in at $304m (€256m), down 47% from the year ago period.

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