Sprint Slips 4.4% on Warning
Sprintundefined hit a 52-week low of 21 and was down 4.4% in early trading after it warned that upcoming earnings would be lower than expected due to sluggish revenue growth. The long-distance carrier said 2000 earnings would be between $1.80 and $1.90 per share. Analysts had been estimating $1.90.
For 2001, Sprint said earnings per share would be between $1.65 and $1.75, short of the Street's forecast of $2.10. Sprint's announcement closely follows lowered forecasts from
AT&T
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. Ma Bell was unchanged. WorldCom was up 1.8%.
