WorldCom turns a deeper shade of red

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WorldCom booked a loss of US$108 million for the month, on revenue of US$2.3 billion, compared to a US$331 million loss on revenue of $2.5 billion in July and an August result of a US$98 million loss on US$2.4 billion in revenue.


US telco WorldCom posted another net loss for September, but still managed to add to its pile of cash despite another drop in revenue.

WorldCom, which is still not clear of US federal investigations into its accounting, recently announced its problems may amount to more than US$9 billion, rather than the US$7 billion it had previously advised.

WorldCom's EBITDA earnings for September totalled US$416 million, with the company announcing cash reserves now amount to US$1.4 billion, compared to US$200 million at the beginning of the month.

Industry watchers believe that HP president Michael Capellas may take over the reins at WorldCom after he departs from HP in December.

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