|
ASHBURN, Va. (AP) - Long-distance phone carrier MCI Inc., which is being acquired by Verizon Communications Inc., on Tuesday reported its first quarterly profit since emerging from bankruptcy in April 2004 on declining expenses.
MCI, which changed its name last year from WorldCom, reported net profit of $64 million, or 19 cents per share, after a loss of $71 million, or 22 cents per share, in the second quarter of last year.
Earnings from continuing operations totaled $67 million, or 20 cents per share, compared to a loss of $70 million, or 22 cents per share, in the 2004 period. On that basis, analysts had expected a loss of 1 cent per share, according to a survey by Thomson Financial.
|
|