Level 3 Communications' losses continue in Q3

Level 3 Communications' Q3 09 earnings certainly leave a lot to be desired. Shouldering both sluggish sales and ongoing debt, Level 3 Communications reported that it lost $41 million more during the Q3 2009 than it did in Q3 2008. The wholesale operator said it lost $170 million, a significantly wider loss than it had in Q3 2008 of $129 million. At the same time, Level 3's revenue declined 14 percent to $916 million.

Since these results came in well below analyst expectations, the wholesale operator's shares quickly dropped 11.76 percent to reach $1.20. Making matters worse, Level 3's core communications services sales dropped 15 percent to $901 million, while network and wholesale voice revenue declined 11 percent year-over-year to $859 million.

Despite the gloomy picture, Level 3's long-term debt held at $6.1 billion. And while that's $68 million less than what it had in Q2 09 and $145 million less than what it had at the start of 2009, the company will have to deal with $157 million in debt to deal with in 2010 and $433 million in 2011.

For more:
- Xchange has this article

Related articles

Level 3's revenue slide continues in Q2
Level 3, 8x8 target public sector opportunities
FierceTelecom Leaders: Monisha Merchant, director of product management, Level 3
WSJ: Sprint, Level 3 discussing long-haul JV
Level 3 exec discusses mid-market expansion

Suggested Articles

IBM has named internship and mentor program Outreachy as the winner of its second $50,000 Open Source Community Grant.

While carriers have kept up with the networking demands related to the COVID-19 pandemic, Vodafone is upgrading its network by 4 TBps of capacity.

According to revised research by International Data Corporation (IDC), worldwide IT spending is now expected to decline by 2.7%.