Global Crossing (Nasdaq: GLBC) may be making continual improvements to its service set and structure, but that did not help the decline in the service provider's Q2 consolidated revenue.
During the quarter, Global Crossing reported $630 million in consolidated revenue, down three percent sequentially and flat year over year, a factor it attributes to declining wholesale voice revenue and unfavorable foreign exchange impact.
Global Crossing saw a $20 million decline in wholesale voice revenue to $74 million, a factor the service provider attributes to pricing actions to improve margin performance on what the service provider says is a "non-strategic portion of the company's revenue base." Also, a sequential decrease included a $9 million unfavorable foreign exchange impact and the year-over-year decrease included a $7 million favorable foreign exchange impact.
On a slightly more positive note, the service provider's "invest and grow" service strategy generated $555 million in revenue during the quarter, but flat on a sequential basis and up three percent year over year. Rest of World, GC Impsat and GCUK generated "invest and grow" revenue of $314 million, $134 million, and $113 million, respectively.
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