BellSouth Forecasts Slowdown in Growth
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BellSouth Corp. said it expects revenue growth in 2002 to slow by 5% to 7% as the weakened economy partly offsets growth in the sales of data, wireless and long-distance telephone services.
BellSouth, the dominant local telephone company in nine states in the Southeast from Kentucky to Florida, expects 2001 revenue to grow 8% to 9%.
The Atlanta-based company said it does not see any economic improvement happening before the second half of 2002. Shares of BellSouth added 98 cents to close at $38.62 on the New York Stock Exchange. The stock has fallen about 6% this year.
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