DETROIT – SBC Communications, the dominant carrier in Michigan, said Thursday that second-quarter earnings fell 14 percent due to the cost of a short strike by 100,000 workers in June.
The former Southwest Bell said it earned $1.2 billion, or 35 cents a share, compared with $1.4 billion, or 42 cents a share, in the same three months a year ago.
Excluding a $263 million charge for the cost of the strike, SBC earned $1.3 billion, or 40 cents a share. Revenue rose 0.8 percent to $10.3 billion.
Analysts on average had expected earnings of 36 cents a share before one-time items, on revenue of $11.9 billion. SBC said it added 315,000 residential high-speed data subscribers and 1.4 million long-distance customers during the second quarter.
