CenturyLink (NYSE: CTL) once again rode the ongoing landline loss trend in Q3 as consumers cut the PSTN cord in favor of a wireless phone to save money on their communications spend.
One thing that did help CenturyLink during Q3 was that its acquisition of Embarq was breeding cost savings. However, CenturyLink's Q3 revenue declined 6.8 percent to $1.75 billion, topping analyst forecasts of $1.74 billion.
Glen Post, president CEO CenturyLink, which is in the process of purchasing Qwest Communications, will be on expanding its strategic services set, said that broadband, IP-based services such as Ethernet and IPTV gave its strategic revenues a lift in Q3.
While it did not specify a specific timeline, CenturyLink plans to launch its Prism IPTV service in additional markets in 2011.
"CenturyLink's strategic revenues increased nearly 8% compared to third quarter last year as demand for broadband and IP-based services continues to grow," Post said in the earnings release. "Our advanced communications network and operating systems position us well to meet the demand for advanced services such as IPTV and local and national Ethernet."
Going forward, CenturyLink expects to report total operating Q4 revenues of $1.69 to $1.71 billion and diluted earnings per share of $.73 to $.77. What's more, CenturyLink updated its full year 2010 diluted earnings per share from $3.30 to $3.40 to $3.36 to $3.40.
- see the earnings release
- Reuters has this article
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More Q3 2010 wireline earnings:
Click here for the ongoing summary