Level 3 revival continues, outlook concerns

Level 3 Communications posted third quarter earnings that included a $120 million net loss, that was bigger than its $33 million loss in the second quarter this year, but much better than its $174 million Q3 loss in 2007. That said, the company also improved revenue slightly year-over-year to $1.07 billion, matching analysts' estimates.

Level 3 CEO James Crowe said the company is well-positioned, but Level 3 also changed its outlook for its full-year adjusted EBITDA figure to the range of $980 million to $1 billion. It's previous outlook had been for EBITDA to be between $950 billion to $1.1 billion. The carrier also said wholesale customer sales cycles were growing longer amid economic uncertainty, but that it has funds to pay $305 million in debt due in September 2009.

The company's stock price was up briefly today, before heading downward.

For more:
- The Associated Press covers the earnings report
- Barron's Tech Trader Daily has further analysis

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