Level 3 looking up after narrowing loss

Level 3 Communications continued to bounce back from financial misfortune, executive departures and order bottleneck issues that characterized its recent past by postings second quarter earnings that included a $33 million net loss, vastly better than the loss of $202 million it posted for the same period in 2007.

The company also beat analysts' revenue estimates of $1.08 billion by reporting revenue of $1.09 billion. Is the positive vibe enough to send Level 3 back to the M&A table, something it talked about doing at its most recent annual shareholders meeting? Level 3 seemed to buy its way into the content delivery network business at just the right time, though the CDN sector recently has become more competitive with increasing attention from AT&T and other carriers.

For more:
-see this Associated Press story at Forbes

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