Short Take: Williams Communications tops earnings estimates

Williams Communications, a national wholesale communications carrier, reported a smaller-than-expected first-quarter loss. Williams reported a net loss of $121.6 million, or 21 cents per share, compared with a net loss of $76 million, or 19 cents a share, for the same period a year ago. Wall Street expected a loss of 45 cents per share, according to First Call/Thomson Financial. Quarterly revenue increased to $533.3 million, up from $502.1 million last year.