Qwest yesterday lowered its outlook for the year, citing the weakness in the economy and competition from wireless providers and cable VoIP offerings. CEO Edward Mueller told a Deutsche Bank conference in New York he expects revenue and earnings to come in at the lower end of this year's forecasts.
"In the marketplace there's a lot of head-wind, as you know, from the housing downturn, the financial woes of our country right now," Mueller said.
Qwest's February forecast called for sales near or slightly below its $13.8 billion in 2007 revenue. It also now expects its operating earnings to be relatively flat.
Qwest yesterday also delivered less-than-good news to its customers, raising a la carte products 7 to 28 percent, citing changing market conditions.
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- See the Rocky Mountain News story
