XO Reports Revenue of $279 Million, Down 7.3%

XO Communications reported Q3 revenue of $279.4 million, down 7.3% compared to Q3 2002. Cost of service for the third quarter of 2003 improved to 38.3% of revenue versus 41.9% of revenue for the third quarter of 2002.


Carl Grivner, XO's Chief Executive Officer, said "the market for new telecom services remains weak and we face competitive pricing pressure. In addition, during the third quarter, XO invested in its business operations and expanded its direct sales force as well as its sales agent program in key markets. These initiatives are expected to have a negative impact on our short term financial results, however, we remain hopeful about the long term benefits of the actions we have undertaken."http://www.xo.com