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Qwest net income increases, revenue slides
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Qwest Communications is continuing to show improvement, as the carrier reported a profit increase for the fourth quarter of 89% to $366 million, from $194 million in Q4 2006. The net income boost resulted in a doubling of earnings-per-share to 20 cents for the latest quarter. However, it wasn't revenue that drove the rise, but ongoing reductions in operational costs, plus a tax benefit. Revenue actually dropped 1.5% for the quarter to $3.44 billion, but operational expenses declined more than 6%.
Meanwhile, Qwest saw access line decline of 6.5%, which is a higher rate of loss than many other telcos showed for the quarter. Voice revenue slid 7.4%, and adding further fuel to speculation that broadband adoption is slowing industry-wide, Qwest gained 95,000 broadband customers during the quarter, about 70,000 less than it gained for the same period in 2006.
For more:
- read this Dow Jones Newswires story at CNN Money
Related articles:
- Qwest announced a $300 million FTTN plan with its third-quarter 2007 earnings
Comments
Posted by Anonymous | April 7, 2008 - 1:19pm
No wonder QWEST access is dropping and revenue is up...they keep jacking the rates up. I have tried for two years to work with QWEST residential phones and DSL. Tech support was a mixed bag (except for the Idaho crew, which was great). The cost has climbed steadily. Now that they want almost $80/month for average phones and lukewarm broadband, they are on their way out.
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