CenturyLink: 2Q Earnings Snapshot
MONROE, La. (AP) _ CenturyLink Inc. (CTL) on Wednesday reported second-quarter earnings of $292 million.
On a per-share basis, the Monroe, Louisiana-based company said it had net income of 27 cents. Earnings, adjusted for non-recurring gains, were 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The communications company posted revenue of $5.9 billion in the period. Its adjusted revenue was $6.04 billion, also topping Street forecasts. Six analysts surveyed by Zacks expected $5.93 billion.
CenturyLink shares have increased 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. In the final minutes of trading on Wednesday, shares hit $18.54, a decline of 15 percent in the last 12 months.