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

The market for storage equipment certified by the Open Compute Project (OCP) is headed for a growth spurt, according to a report by IHS Markit.

Big Switch packed four hybrid cloud related products and features into one announcement on Wednesday to address the challenges of hybrid environments.

MEF announced on Wednesday the publication of its SD-WAN Service Attributes and Services standard (MEF 70).