Qwest Reports Q3
"We are very pleased that Qwest continues to gain momentum with its third quarter of sequential improvement in earnings per share," said Richard C. Notebaert, Qwest chairman and CEO. "Customers are embracing our higher-value, higher ARPU products that contribute to our revenue while our cost structure and investments remain focused and rational."
Qwest reported revenue of $3.5 billion for the third quarter, benefiting from improving sales within Qwest's diverse portfolio of growth products, including high-speed Internet, advanced data products and digital voice service. Year-ago revenues included the impact of $52 million recognized in the third quarter of 2005 from a large government contract.
"We continue to deliver on our expectations for the year," said Oren G. Shaffer, Qwest vice chairman and CFO. "Our margins continue to expand toward our target of the mid-30 percent range, our free cash flow is squarely on track for the year, and we continue to pursue additional opportunities to expand top-line growth."
Qwest Communications International Inc. (NYSE: Q)