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Technology / AI and automation

COMPANY RESULT: MCI COMMUNICATIONS CORP

MCI Communications Corp has reported a fourth-quarter net loss of $391m on revenue up 7.5% at $5.12bn, compared to net income of $303m a year ago. For the year, net income was $2.0m on revenue up 6.3% at $19.65bn, compared to net income of $1.99bn, or $1.73 per share, last year. Results include $752m in pre-tax charges related to restructuring, employee and customer retention initiatives and technology upgrades.

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CBR Staff Writer

CBR Online legacy content.