WorldCom Losses

By: Associated Press

Updated: Mon 10:57 AM, Dec 30, 2002

WorldCom Incorporated's losses doubled in October from the previous month and sales of its telecommunications services remained flat.

Revenues for October were flat at $2.3 billion. During the month, WorldCom lost $234 million.

Flat sales for October mean that WorldCom is not winning new business fast enough to stem its losses.

WorldCom has admitted to more than nine billion dollars in accounting fraud, and still faces the possibility of paying a massive fine for those misstatements.

Meanwhile, Clinton-based WorldCom has been fighting to gain new business and to hang onto current accounts in the face of intense rivalry from its competitors.

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