Level 3 Communications posted a first quarter revenue increase of 3%, which does not sound like much until noting that Wall Street expected less. The carrier, still recovering from M&A integration challenges and executive departure, reported $1.09 billion in revenue, slightly above estimates of $1.06 billion. The company also lowered its losses to $181 million from $647 million for the same quarter last year, though the 12 cents earnings-per-share decline was one cent higher than expectations.
The earnings report suggested Level 3 found strength from increasing demand for online video, the type of content it is in a better position to support because of the content delivery network acquisitions it has made.
- check out this Associated Press report at Forbes.com