Independent telco Embarq posted a 33 percent increase in profit for the first quarter of 2008 despite lower revenue. The company further said it is lowering its revenue estimate for full-year 2008 results into the range of $5.72 billion to $5.80 billion, compared to the previous outlook of $5.75 billion to $5.83 billion. For the first quarter, profit hit $212 million, up from $160 million for the same quarter last year, but revenue was down from $1.59 billion to about $1.57 billion over the same period.
Embarq is continuing to see landline decline, having lost 120,000 lines during the first quarter, or about 7.3 percent of its lines. Generally, across the industry, first quarter access line decline has appeared to be sharper than some quarters last year. Meanwhile, Embarq added about 63,000 high-speed Internet customers and about 17,000 satellite TV customers.
- see this story in the Wall Street Journal