BellSouth sees loss from currency declines
BellSouth said Friday that declining currencies in Brazil and Colombia will result in losses of five to six cents per share in the second quarter. The local telephone service provider will take a noncash charge because of the currency losses. The second-quarter foreign exchange loss will also affect results for the year, but BellSouth said it still expects to be within its previous estimate of 7 percent to 9 percent earnings per share growth for the year. First Call's consensus estimate for the year is $2.34 cents. BellSouth is expected to deliver earnings of 58 cents a share in the second quarter.
BellSouth said Friday that declining currencies in Brazil and Colombia will result in losses of five to six cents per share in the second quarter. The local telephone service provider will take a noncash charge because of the currency losses.
The second-quarter foreign exchange loss will also affect results for the year, but BellSouth said it still expects to be within its previous estimate of 7 percent to 9 percent earnings per share growth for the year. First Call's consensus estimate for the year is $2.34 cents. BellSouth is expected to deliver earnings of 58 cents a share in the second quarter.