Canadian Wipeout!
InfoWorld reports Nortel Q3 revenue falls across all segments. With a loss of $1.08 billion, about four times as high as analysts expected, Nortel is clearly in trouble. It says it expects to have $3 billion in cash at the end of the year -- less than its outstanding debts. The telecom sector is not just bad, it's getting worse:
Posted by Mitch Ratcliffe at October 17, 2002 05:46 PM | TrackBack
Compared to the third quarter of 2001, revenue from its wireless networks segment decreased 30 percent, revenue from its enterprise networks unit fell 10 percent, revenue from its wireline networks segment declined 49 percent, and revenue from its optical networks segment declined 47 percent, "representing substantial decreases across all major regions," the company said.