| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| -$0.29 | -$0.29 | -$0.23
|
 |
Genuity(GENU Quote - Cramer on GENU - Stock Picks) posted a fourth-quarter loss that was in line with analysts' expectations, but the figure widened from last year because of the company's investments in network infrastructure and other new initiatives.
The Burlington, Mass., e-business network provider, which was spun off by
GTE last year, reported a fourth-quarter loss of $284 million, compared with $183 million a year ago. GTE and
Bell Atlantic merged last year to form
Verizon (VZ Quote - Cramer on VZ - Stock Picks). Genuity reported a fourth-quarter loss, assuming the full conversion of Class B common stock, of 29 cents a share, compared with a loss of 23 cents a year ago. The latest quarter was in line with the 11-analyst estimate carried by
First Call/Thomson Financial.
Revenue for the quarter rose 55% to $312.8 million from $202.1 million last year. The company said the number of DSL subscribers rose 67% from the third quarter to 230,500.
Shares of the company lately fell 9 cents, or 2.3%, to $3.97 on the
Nasdaq.
Yi Ping Ho
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