Global Crossing reported a net loss of $51 million for the fourth quarter of 2008, though revenue was up by about 4 percent to $642 million. The service provider, which successfully has refocused from the wholesale bandwidth business to the corporate enterprise IP market within the last couple years, said that recurring enterprise orders were down earlier in the fourth quarter, but rebounded somewhat.
Global Crossing CEO John Legere said that some appearance among enterprise customers of lengthening sales cycles has not affected sales results, leading the company to be cautiously optimistic about 2009, and forecast small growth in revenue for this year. One sector certainly worth watching this year for Global Crossing observers is the content delivery network business. Like AT&T, Verizon Communications, Level 3 Communications and other carriers, Global Crossing has entered the market through a partnership with EdgeCast.
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Global Crossing said late last year it might go shopping
Global Crossing, re-focused, made waves in 2007