<PAGE>
EXHIBIT 11
WORLDPAGES.COM, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended June 30, Six Months Ended June 30,
----------------------------- -----------------------------
(In thousands, except share data) 2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
EARNINGS PER SHARE:
Average number of common shares outstanding
for basic computation 46,081,501 19,859,262 38,077,417 19,859,262
Diluted effect of common stock equivalents using
the treasury stock method 724,908 0 1,030,882 0
------------ ------------ ------------ ------------
Average number of common shares outstanding
for diluted computation 46,806,409 19,859,262 39,108,299 19,859,262
============ ============ ============ ============
Net income (loss) from continuing operations
before extraordinary item $ 375 $ (1,250) $ 988 $ (219)
Extraordinary item - loss on early retirement
of debt, net -- -- (2,291) --
Loss from discontinued operations, net -- -- -- (6,189)
Loss on sale of discontinued operations, net -- -- -- (51,800)
------------ ------------ ------------ ------------
$ 375 $ (1,250) $ (1,303) $ (58,208)
============ ============ ============ ============
Basic and diluted earnings (loss) per share from:
Continuing operations $ .01 $ (.06) $ .03 $ (.01)
Extraordinary item - loss on early retirement
of debt, net -- -- (.06) --
Loss from discontinued operations, net -- -- -- (.31)
Loss on sale of discontinued operations, net -- -- -- (2.61)
------------ ------------ ------------ ------------
$ .01 $ (.06) $ (.03) $ (2.93)
============ ============ ============ ============
</TABLE>
Note: During the three and six month periods ended June 30, 2000, WorldPages had
common stock options and warrants outstanding which could potentially dilute net
income per share in the future but were excluded from the computation of diluted
net income per share because the exercise price of these instruments was greater
than the average market price per share for the period. At June 30, 2000,
2,989,911 stock options and warrants with exercise prices greater than the
average market price per share for the period were excluded from the diluted net
income per share computation. Further, for the three and six month periods ended
June 30, 1999, the assumed exercise of options and warrants was excluded from
the computation of diluted earnings per share because to do so would have been
anti-dilutive.
See accompanying notes to consolidated financial statements.
19
