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CapCities Clobbered

With broadcasting and publishing hit by the economic slowdown and the effects of the Persian Gulf war, Capital Cities/ABC reported a 44% first-quarter earnings slide and projected more earnings drops for the second quarter. Net income for the first quarter ended March 31 decreased 44% to $58.6 million ($3.50 per share) from $106.3 million ($6.08).

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    With broadcasting and publishing hit by the economic slowdown and the effects of the Persian Gulf war, Capital Cities/ABC reported a 44% first-quarter earnings slide and projected more earnings drops for the second quarter. Net income for the first quarter ended March 31 decreased 44% to $58.6 million ($3.50 per share) from $106.3 million ($6.08).

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    With broadcasting and publishing hit by the economic slowdown and the effects of the Persian Gulf war, Capital Cities/ABC reported a 44% first-quarter earnings slide and projected more earnings drops for the second quarter. Net income for the first quarter ended March 31 decreased 44% to $58.6 million ($3.50 per share) from $106.3 million ($6.08).

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    With broadcasting and publishing hit by the economic slowdown and the effects of the Persian Gulf war, Capital Cities/ABC reported a 44% first-quarter earnings slide and projected more earnings drops for the second quarter. Net income for the first quarter ended March 31 decreased 44% to $58.6 million ($3.50 per share) from $106.3 million ($6.08).

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